DT Cloud Acquisition Corporation has announced a new shareholder agreement aimed at amending the monthly fee structure for extending the deadline to complete its initial business combination. The SPAC plans to reduce the extension fee to $60,000 for all outstanding public shares. Additionally, the company intends to enter into voting agreements with certain shareholders. Under these agreements, if shareholders redeem 75% of their ordinary shares and refrain from redeeming the remaining 25%, they will receive additional rights. For every seven rights accrued, shareholders will be entitled to one ordinary share upon the completion of the business combination. This strategic move is designed to incentivize shareholders to maintain their investment while facilitating the SPAC's business objectives.
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