DT Cloud Star Acquisition Corp (NASDAQ: DTSQ) is a blank-check special purpose acquisition company formed to identify and complete a merger or acquisition with a target business. It does not generate operating revenue. The company raised $69,000,000 in gross proceeds from its initial public offering of 6,900,000 units at $10.00 per unit, completed on July 26, 2024, with all IPO proceeds deposited into a trust account held by Wilmington Trust National Association. An additional $2,069,000 was raised through a simultaneous private placement of 206,900 units to sponsor DT Cloud Star Management Limited. As of December 31, 2025, the trust account held the deposited IPO proceeds in marketable securities, while the company reported cash at bank of $461 and a working capital deficit of $361,245 outside the trust. The sponsor held 52.9% of outstanding ordinary shares as of the 10-K filing date. The company has stated no restriction on target industry or geography for its initial business combination.

Revenue model

No operating revenue. The company holds $69,000,000 in a trust account earning returns on marketable securities pending an initial business combination. Working capital outside the trust is minimal, with cash at bank of $461 as of December 31, 2025.

Products and services

Publicly traded units on NASDAQ, each consisting of one ordinary share and one right. Nine rights entitle the holder to one ordinary share upon closing of a business combination. The company's sole activity is sourcing and completing an acquisition.

Customers and end markets

Public shareholders who participated in the IPO. No commercial customers or end markets as of the 10-K filed 2026-03-25.

Value-chain role

SPAC sponsor and acquisition vehicle. Raises capital through public markets and holds it in trust while management identifies a private business combination target. The sponsor, DT Cloud Star Management Limited, provides funding support for working capital deficiencies as needed.

Geographic exposure

Incorporated and listed in the United States (NASDAQ). Management affiliations suggest orientation toward China-based or Asia-Pacific acquisition targets, consistent with CSRC regulatory disclosures in the 10-K filed 2026-03-25, though no target has been identified.

Source: SEC 10-K, filed 2026-03-25

Industry: Blank Checks