DT Cloud Acquisition Corporation (DYCQU) Prices $60M IPO


DT Cloud Acquisition Corporation (DYCQU) Prices $60M IPO

DT Cloud Acquisition Corporation (NASDAQ:DYCQU) announced the pricing of its $60 million IPO and its units are expected to begin trading on the Nasdaq under the symbol “DYCQU” today, Wednesday, February 21, 2024.

The new SPAC plans to focus its target search on a company that is under-performing due to a temporary dislocation in the markets and has the potential for high recurring revenue.

DT Cloud’s management team is comprised of Shaoke Li, Chairperson and Chief Executive Officer and Guojian Chen, Chief Financial Officer. Michael David Osowski, Olivia Wenxi He and Thomas Trent Stout are to serve as its independent directors.

Total SPAC deal count for 2024 year-to-date is now 4. This offering is expected to close on Friday, February 23, 2024.

Brookline Capital Markets, a division of Arcadia Securities, LLC is the sole book-running manager for the IPO. Loeb & Loeb LLP is serving as Issuer’s Counsel with DLA Piper LLP serving as Underwriter’s Counsel. MaloneBailey, LLP serves as auditor. Continental Stock Transfer & Trust Company is acting as trustee.