DT Cloud Acquisition Corp Announces Meeting Postponement

DT Cloud Acquisition Corp (NASDAQ:DYCQU), currently trading at $10.65 and maintaining a market capitalization of $94.2 million, has announced the postponement of its extraordinary general meeting, initially scheduled for February 18, 2025, to February 21, 2025. According to InvestingPro data, the stock is trading near its 52-week high of $10.90, suggesting strong market interest in the company's developments. The board of directors made the decision on Friday, February 14, 2025, to delay the meeting and extend the redemption deadline to February 19, 2025.

The meeting, which will now take place at Wilson Sonsini Goodrich & Rosati's New York offices, is set to review and vote on a proposal related to the reduction of monthly extension fees. These fees are paid into the trust account to extend the timeline for the company to complete its initial business combination.

Originally, the fee was proposed to be the lesser of $60,000 for all outstanding Public Shares or $0.0087 per outstanding Public Share. However, on February 4, 2025, the board proposed an amendment to increase the fee to $70,000 for all outstanding Public Shares. Subsequently, on the day of the postponement, the board further revised the proposal, suggesting a fee of $0.022 per outstanding Public Share starting March 23, 2025, through February 23, 2026, unless an initial business combination is completed sooner.

This second amendment is detailed in the Supplement No. 2 to the original Proxy Statement, which supersedes and replaces the first supplement. The company emphasizes that other than the changes mentioned, no other modifications have been made to the original Proxy Statement or the proxy card.

Shareholders who have already cast their votes do not need to vote again unless they wish to change or revoke their previous decision. Those who have submitted redemption requests may withdraw them by contacting the company's transfer agent.

The solicitation of proxies from shareholders continues, with the record date for voting eligibility set as of the close of business on January 15, 2025. DT Cloud Acquisition Corp has engaged Advantage Proxy, Inc. to assist with the proxy solicitation process.

The company's directors, executive officers, and other members of management may be participants in the proxy solicitation. Shareholders seeking information on how to vote or change their vote can reach out to Advantage Proxy for assistance. For investors looking to make informed decisions, InvestingPro offers comprehensive analysis tools and additional insights, including 8 more exclusive ProTips and detailed financial metrics that can help evaluate the company's performance and market position.

This information is based on the latest SEC filing by DT Cloud Acquisition Corp.

In other recent news, DT Cloud Acquisition Corp announced an amendment to its monthly extension fee paid into the trust account for extending the deadline to complete its initial business combination. The company's board of directors has proposed an increase in the fee from the lesser of $60,000 for all outstanding Public Shares or $0.0087 for each outstanding Public Share to a flat rate of $70,000 for all outstanding Public Shares. This change will take effect starting in 2025, and will apply each month until the earlier of the closing of an initial business combination or 2026.

These recent developments come as the company prepares for an extraordinary general meeting of shareholders. At this meeting, shareholders will vote on the proposed reduction of the monthly extension fee, among other items. Shareholders of record as of mid-January 2025 are eligible to vote at the upcoming meeting, and the company has urged shareholders to resubmit their votes using the amended proxy card due to the revised proposal.

DT Cloud Acquisition Corp has also engaged Advantage Proxy, Inc. to assist with soliciting proxies, offering support to shareholders seeking assistance with voting or directing votes regarding their shares.

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