DT Cloud Acquisition, a blank check company led by executives from energy-focused asset manager KX Power, raised $60 million by offering 6 million units at $10. Each unit contains one share of common stock and one right to receive one-seventh of a share upon the consummation of a merger.
The company is led by CEO and Chair Olivia He, the CIO of KX Power Limited, and the CFO of March 2022 IPO Metal Sky Star Acquisition (MSSA; +11% from $10 offer price). She is joined by CFO and Director Thomas Stout, a Partner, President, and a senior advisor at KX Power, as well as the Senior Managing Director and Head of Blockchain of Priority Power Management. DT Cloud Acquisition plans to target companies positioned to bring in high returns and long-term sustainable growth.
DT Cloud Acquisition plans to list on the Nasdaq under the symbol DYCQU. Brookline Capital Markets acted as sole bookrunner on the deal.
