DT Cloud Star Acquisition registered to offer 6 million units at $10 each. A unit consists of a share and one right to receive one-seventh of a share upon completion of a merger.
While the new SPAC has not selected a specific sector to target, the management team will seek to acquire and form a business combination that has a competitive advantage in their core business and is positioned to bring in high returns and long-term sustainable growth, according to the registration statement.
CEO and Chair Bian Fan is a senior vice president at CITIC Securities, where he leads cross-border mergers and acquisitions, and capital markets transactions.
A.G.P. is sole bookrunner on the deal.
The new SPAC plans to list plans to list on the Nasdaq under the symbol DTSQU. Read more.
