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DT Cloud Acquisition Corporation Announces Cancellation of Extraordinary General Meeting

1. DT Cloud cancels February 21 EGM, removing shareholder proposals. 2. Company withdraws proxy proposals filed with the SEC. 3. DT Cloud seeks merger opportunities that complement management's expertise. 4. Press release emphasizes forward-looking uncertainties and an evolving strategy.

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$10.502/21 04:37 AM EDTEvent Start
$10.5602/24 04:48 AM EDTLatest Updated
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FAQ

Why Neutral?

The cancellation of the EGM and withdrawal of proposals offers limited immediate changes. Similar SPAC cancellations in the past resulted only in short-lived volatility.

How important is it?

The cancellation reflects a management decision that could influence short-term investor sentiment. It signals potential shifts in strategy, making it significant for DYCQ holders.

Why Short Term?

The news might create near-term price fluctuations as investors reassess governance moves, but it doesn't alter the long-term merger strategy.

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DYCQUDYCQR
New York, New York, Feb. 20, 2025 (GLOBE NEWSWIRE) -- DT Cloud Acquisition Corporation (Nasdaq: DYCQU, DYCQ, DYCQR) (“DT Cloud” or the “SPAC”), a publicly-traded special purpose acquisition company, today announced that it has cancelled the extraordinary general meeting of its shareholders that was previously scheduled for 10:00 a.m. Eastern Time on February 21, 2025 (the “EGM”), and has withdrawn from consideration by the shareholders the proposals set forth in the Company’s definitive proxy statement for the EGM filed with the U.S. Securities and Exchange Commission (the “SEC”) on January 27, 2025 and amended and supplemented on February 4, 14 and 19, 2025. About DT Cloud Acquisition Corporation DT Cloud is a blank check company formed for the purpose of effecting a merger, share exchange, asset acquisition, stock purchase, reorganization or other similar business combination with one or more businesses. While DT Cloud may pursue an initial business combination target in any business or industry, it intends to focus its search on industries that complement its management team’s background. DT Cloud is led by Shaoke Li, its Chief Executive Officer, and Guojian Chen, its Chief Financial Officer. Forward-looking Statements This press release contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended and Section 21E of the Securities Exchange Act of 1934, as amended and the Private Securities Litigation Reform Act of 1995. Forward looking statements are statements that are not historical facts. Such forward-looking statements are subject to risks and uncertainties, which could cause actual results to differ from the forward-looking statements. The Company expressly disclaims any obligations or undertaking to release publicly any updates or revisions to any forward-looking statements contained herein to reflect any change in the Company’s expectations with respect thereto or any change in events, conditions or circumstances on which any statement is based. Additional Information and Where to Find It On January 27, 2025, the Company filed a definitive proxy statement with the Securities and Exchange Commission (the “SEC”) in connection with its solicitation of proxies for the EGM. The Company filed additional proxy supplements with the SEC on February 4, 14 and 19, 2025. Investors and security holders will be able to obtain free copies of the definitive proxy statement (including any amendments or supplements thereto) and other documents filed or that will be filed with the SEC through the web site maintained by the SEC at www.sec.gov. Participants in the Solicitation The Company and its directors, executive officers, other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from the shareholders of the Company in connection with the Meeting. Investors and shareholders may obtain more detailed information regarding the names, affiliations and interests of the Company’s directors and officers in the Proxy Statement, which may be obtained free of charge from the sources indicated above. No Offer or Solicitation This press release shall not constitute a solicitation of a proxy, consent or authorization with respect to any securities or in respect of the EGM proposals. This communication shall also not constitute an offer to sell or the solicitation of an offer to buy any securities, nor shall there be any sale of securities in any states or jurisdictions in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offering of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended, or an exemption therefrom.  Contact: For investors: DT Cloud Acquisition CorporationShaoke LiChief Executive Officer30 Orange StreetLondonUnited Kingdom, WC2H 7HFEmail: jack.li@dtcloudspac.com

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