10-K - DT Cloud Acquisition Corp (0001944212) (Filer)

Thu, Mar 28, 8:08 PM (421 days ago)

DT Cloud Acquisition Corporation, a Cayman Islands-based company, filed a Form 10-K for the fiscal year ended December 31, 2023. The company, focused on effecting a merger, share exchange, asset acquisition, share purchase, recapitalization, reorganization, or similar business combination with one or more businesses, has not yet identified a prospective target. As of March 27, 2024, it had 1,828,500 ordinary shares and 6,900,000 public units issued and outstanding. The company's units, each consisting of one ordinary share and a right to receive one-seventh of one ordinary share, began trading on The Nasdaq Stock Market LLC on February 21, 2024. DT Cloud Acquisition Corporation is a blank check company with no operating history or revenues, making it challenging for investors to evaluate its potential success. The company is subject to risks including the inability to consummate a business combination within the required timeframe, competition in acquiring target businesses, and potential adverse effects from the COVID-19 pandemic on the economy and financial markets. The company's strategy involves leveraging its management team's experience and connections to identify and acquire a business with growth potential. However, there are concerns about potential conflicts of interest among the management team and the dilution of public shareholders' interest. Additionally, the company may face regulatory challenges and be deemed an investment company under the Investment Company Act, which could restrict its activities and increase compliance costs.