MergerMay 8, 2026, 04:07 PM
DT Cloud Star Enters Merger Agreement with PrimeGen US; Q1 Net Loss $(110K)
AI Summary
DT Cloud Star Acquisition Corp. announced it entered into a Business Combination Agreement with PrimeGen US, Inc. on February 2, 2026, outlining a Redomestication Merger and an Acquisition Merger. For the first quarter of 2026, the company reported a net loss of $(110,289), a significant decrease from the $630,284 net income in the same period last year. The company also extended its business combination period to March 26, 2026, with a potential further extension to October 26, 2026, and its Trust Account balance grew to $18,259,482.
Key Highlights
- Entered Business Combination Agreement with PrimeGen US, Inc. on February 2, 2026.
- Reported Q1 2026 net loss of $(110,289) compared to Q1 2025 net income of $630,284.
- Trust Account balance increased to $18,259,482 as of March 31, 2026.
- Total assets were $18,333,340 as of March 31, 2026, up from $17,972,109 at Dec 31, 2025.
- Total liabilities increased to $1,618,408 as of March 31, 2026, from $1,146,888 at Dec 31, 2025.
- Accumulated deficit grew to $(1,544,750) as of March 31, 2026.
- Extended business combination period to March 26, 2026, with potential further extension to October 26, 2026.
- Ordinary shares subject to possible redemption were 1,652,509 at $11.05 per share.