NEW YORK, May 30, 2026, 15:05 EDT
DT Cloud Star Acquisition Corp. finished Friday at $11.27, slipping from $11.29 on Tuesday’s close and from $11.30 the week before. The Nasdaq-listed SPAC barely moved during the holiday-shortened week. On Friday, the shares traded in a range of $11.22 to $11.28, with volume at 1,985 shares.
U.S. equity markets are closed this weekend. Nasdaq’s standard session is Monday to Friday, 9:30 a.m. to 4:00 p.m. Eastern. The market stayed shut Monday, May 25, for Memorial Day. Trading picks up again on Monday, June 1.
No new SEC filing hit in the last 24-48 hours to stir activity. EDGAR’s company page still lists the May 14 Schedule 13G as the most recent filing, and the last quarterly report was the May 8 10-Q. With no corporate update, focus stayed on the filing calendar.
DT Cloud Star’s headline right now is the filing calendar. The company is a SPAC, meaning it raises money and then looks for a business to take public. Its proposed merger is with PrimeGen US, a stem-cell therapy developer, in a deal that values PrimeGen at about $1.5 billion.
The market stayed quiet. The Nasdaq Composite added 0.20% Friday to finish at 26,972.62, but DT Cloud Star didn’t move. Traders pointed to company news, not the index’s gain, as the main force in this thin name.
PrimeGen said in February the combined company expects to operate as PrimeGen US and trade on Nasdaq with a new ticker once the deal closes, a step the company sees happening in the second half of 2026. Daniel Chiu, who is PrimeGen’s co-CEO and chairman, called the agreement a “pivotal moment.” Co-CEO Wai Szeto said the cell platform is “differentiated.” DT Cloud Star CEO Sam Zheng Sun said he is “pleased to partner” with PrimeGen. PR Newswire
PrimeGen is developing Triple Activated Mesenchymal Stem Cells, or MSCs. These adult stem cells are in studies for possible repair and signaling use in acute alcoholic hepatitis, which is also known as acute liver failure. The proposed merger isn’t just about SPAC steps—clinical and regulatory hurdles still stand in the way.
Nasdaq compliance is still a concern. DT Cloud Star got a notice from Nasdaq on April 6 about falling short of the Minimum Public Holders Rule—at least 400 holders are needed to keep its spot on the Nasdaq Global Market. The company said trading wouldn’t be affected for now and it has until May 21 to file a plan to fix the issue.
Ownership moves in small stocks can stand out. Mizuho Financial Group said it had 308,995 DT Cloud Star shares, or 8.5%, as of March 31. That’s a big piece for a stock that traded under 2,000 shares on Friday.
SPACs are seeing mixed results. This week, BoardroomAlpha said Cartesian Growth Corp III had some $239.96 million pulled out of trust after holders OK’d its merger. Those redemptions cut the cash left for the deal.
But the risk is clear. DT Cloud Star’s recent 10-Q showed just $1,656 in cash outside the trust account as of March 31 — the SPAC money set aside for redemptions or a deal — and $18.3 million sitting in trust. The company also posted a $110,289 loss for the first quarter and noted the PrimeGen merger hadn’t closed yet. If it doesn’t finish a business combination by Oct. 26, 2026, unless there’s another extension, public shares get redeemed and rights expire worthless.
DT Cloud Star is still holding. The coming week isn’t really about earnings. It’s about paperwork: whether that’s a merger proxy, registration statement, fresh word on Nasdaq compliance, or notice of redemptions or an extension funding. If none of those come through, the Friday close just confirms what’s already priced in — DT Cloud Star is stuck in wait mode.
