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DT Cloud Acquisition signs LOI with Shanghai Maius for business combination

DT Cloud Acquisition has entered into a non-binding letter of intent for a business combination with Shanghai Maius Pharmaceutical Technology. Founded in 2015, Shanghai Maius is a biopharmaceutical R&D company focusing on innovative formulations and targeted small-molecule chemical drugs. Its core products include small-molecule chemical drugs and peptide drugs. Under the terms of the LOI, the Company would acquire 100% of Shanghai Maius's outstanding equity and equity equivalents or all of its business, with the deal structure to be determined later by the parties based on further due diligence findings and other considerations. The post-closing combined public company would use a name consistent with the branding of Shanghai Maius. The Company expects to announce additional details regarding the proposed business combination when a definitive agreement is executed, which is expected in the fourth quarter of 2024.