Broadcom named strategic vendor for Walmart virtualization solutions
DT Cloud Acquisition Corp, a special purpose acquisition company with a market capitalization of $73.6 million and current stock price of $10.86, held an extraordinary general meeting on Monday, where shareholders voted in favor of extending the deadline to complete a business combination. The company, which trades on the Nasdaq Stock Market under the ticker symbols DYCQU, DYCQ, and DYCQR, is now authorized to extend the period for consummating a business combination from the current limit of 15 months to a maximum of 18 months, moving the deadline to August 23, 2026.
Shareholders also approved an amendment to the Investment Management Trust Agreement to reflect the extended timeframe. The approval of these proposals did not require the adjournment proposal to be presented.
In conjunction with the approval of the extension, shareholders holding 326,904 ordinary shares exercised their right to redeem their shares at approximately $10.68 per share, totaling around $3.49 million.
The meeting, which saw 81.87% of the eligible shares represented, reached a quorum and passed the proposals without any abstentions. According to InvestingPro analysis, the stock has demonstrated low price volatility, with additional insights available to subscribers. The company, based in London, United Kingdom (TADAWUL:4280), is classified under the "Blank Checks" industry category, indicating it was established for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination with one or more businesses.
This news is based on a recent SEC filing by DT Cloud Acquisition Corporation.
In other recent news, DT Cloud Acquisition Corp has announced an extension of its merger deadline, now set for May 23, 2026. This decision was made following a shareholder vote during an extraordinary general meeting, where the Extension Amendment Proposal was approved with a significant majority. The extension allows the company additional time to finalize a business combination, aligning with its strategic objectives. During the voting process, shareholders holding 1,868,367 ordinary shares opted to redeem their shares, resulting in a redemption amount of approximately $19.82 million. Additionally, DT Cloud Acquisition Corp has increased the monthly extension fee to a flat rate of $70,000 for all outstanding Public Shares, effective February 23, 2025. This change will remain in place until the company completes its business combination or reaches the new deadline. The company has engaged Advantage Proxy, Inc. to assist with proxy solicitation as it prepares for an extraordinary general meeting. These developments have been confirmed through recent filings with the Securities and Exchange Commission.
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