Ogier advises DT Cloud Star Acquisition Corporation on US$60 million SPAC IPO

Ogier in Hong Kong acted as Cayman Islands counsel to DT Cloud Star Acquisition Corporation on its US$60 million initial public offering on Nasdaq.

The Cayman incorporated special purpose acquisition Company (SPAC) announced the closure of its initial public offering on 26 July 2024. The initial public offering (IPO) consisted of 6,900,000 units (including 900,000 over-allotment units) at an offering price of US$10 per unit. The company commenced trading on the Nasdaq Global Market under the ticker symbol "DTSQU" on 25 July 2024.

The Ogier team was led by partner Rachel Huang, with support from the firm's global head of Corporate Nathan Powell, legal manager Chloe Yip and paralegal Josie Ma. The team collaborated closely with the company's US counsel, Wilson Sonsini Goodrich & Rosati. A.G.P. / Alliance Global Partners served as the sole book-running manager for the offering.

Rachel said: "We were thrilled to assist DT Cloud Star Acquisition Corporation on their Nasdaq listing. July has been a busy month for our Corporate team in Hong Kong with the closure of various IPOs. It is great to see everyone's hard work coming to fruition and we look forward to our continued success over the coming months."

DT Cloud Star Acquisition Corporation intends to pursue business combinations with targets that will not be limited to any particular industry or geographic region, but will focus its search for a target company that has compelling economics, potential for high recurring revenue, a defensible market position, and successful management teams that are seeking access to the public capital markets.