DT Cloud Star closes IPO of 6.9M units at $10; $69M in trust; auditor flags going concern

DT Cloud Star Acquisition Corp

Gross proceeds of $69M from IPO (6.9M units at $10 per unit) and $2.069M from private placement to sponsor.
$69M deposited in trust account for benefit of public shareholders; proceeds held in U.S. Treasuries or money market funds.
Auditor expresses substantial doubt about ability to continue as a going concern due to no revenue and insufficient working capital.
Company has 15 months (until Oct 26, 2025) to complete initial business combination or will liquidate and redeem shares.
Transaction costs total $2.176M, including underwriting commissions and deferred underwriting fees.

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