Table of Contents UNITED STATES SECURITIES AND EXCHANGE COMMISSION WASHINGTON, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended December 31, 2022 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from ______________to ______________ Commission File Number 001-40177 DIGITAL TRANSFORMATION OPPORTUNITIES CORP. (Exact Name of Registrant as Specified i ...

Financial Performance - The company reported a net income of approximately $9.0 million for the nine months ended September 30, 2021, which included a loss from operations of $0.69 million and a gain from the change in fair value of warrant liabilities of $10.3 million [108]. - The company has not completed a Business Combination within 24 months from the IPO closing date, which may lead to the redemption of public shares [107]. - The company has not considered the effect of warrants in the calculation of diluted income (loss) per share, resulting in basic and diluted net income (loss) per share being the same [117]. IPO and Proceeds - The company completed its IPO on March 12, 2021, raising gross proceeds of $333.5 million from the sale of 33,350,000 units at $10.00 per unit, incurring offering costs of approximately $18.9 million [104]. - The company raised gross proceeds of $333.35 million from its IPO of 33,350,000 Units at $10.00 per Unit, including the underwriters' full exercise of the Over-Allotment Option [137]. - Offering costs incurred during the IPO were approximately $18.83 million, which included $11.67 million in deferred underwriting commissions [137]. - The company has placed $333.5 million of net proceeds from the IPO and Private Placement into a trust account, which will be used for a Business Combination [106]. - The company placed $2.1 million of net proceeds from the IPO and certain proceeds from the Private Placement Warrants into the Trust Account [137]. Financial Position - As of September 30, 2021, the company had approximately $0.9 million in its operating bank account and working capital of approximately $1.1 million [109]. - The company has no long-term debt obligations or significant liabilities as of the reporting date [112]. - The company’s management believes it will have sufficient working capital to meet its needs through the earlier of the consummation of a Business Combination or one year from the filing date [111]. Internal Controls and Reporting - The company identified a material weakness in internal control over financial reporting related to complex financial instruments as of September 30, 2021 [132]. - The company continues to evaluate steps to remediate the identified material weakness, which may be time-consuming and costly [133]. - There were no changes in internal control over financial reporting that materially affected the company during the three months ended September 30, 2021 [130]. - The company has not identified any new material weaknesses as of the date of the Quarterly Report, but future weaknesses could impair financial reporting [134]. - The company’s internal controls are necessary to provide reliable financial reports and prevent fraud [133]. - The company’s management has acknowledged the inherent limitations in disclosure controls and procedures, which may not prevent all errors or instances of fraud [129]. Risk Factors - The company’s risk factors, which could materially adversely affect its business, were disclosed in the final prospectus for the IPO filed with the SEC on March 1, 2021 [131].