DT Cloud Acquisition (DYCQ) is a SPAC — a blank check company incorporated in the Cayman Islands with no operating business, products, or customers. DT Cloud raised $69M in its February 2024 IPO at $10.00/unit, with proceeds held in trust at Morgan Stanley. The SPAC's sole purpose is to merge with a private company and take it public on Nasdaq. In October 2024, DT Cloud signed a Business Combination Agreement with Maius Pharmaceutical, a Cayman Islands-incorporated pharmaceutical company. If completed, the deal would list Maius on Nasdaq through a newly created holding company, Maius Pharmaceutical Group. The deal has not yet closed, and its deadline has been extended multiple times — currently to April 2025, with possible extensions to May 2026. The deal requires shareholder approval, SEC registration, Nasdaq listing approval, and a $10M PIPE commitment; as of January 2025, only $300K of the PIPE was committed. The SPAC's sponsor, DT Cloud Capital Corp, received 1.725M founder shares for $25,000, creating strong financial incentive to close a deal. Public shareholders can alternatively redeem shares for their pro rata share of the trust. Significant redemptions have already occurred — roughly 1.87M shares were redeemed in March 2025 for ~$19.8M, leaving approximately 5M public shares outstanding.