Direct Selling Acquisition Corp. Confirms Funding and Extension of Deadline to Complete Initial Business Combination
29 December 2022 - 8:30AM
Business Wire
Direct Selling Acquisition Corp. (NYSE: DSAQ) (the “Company”)
announced today that its sponsor, DSAC Partners LLC (the
“Sponsor”), has deposited an additional $2,300,000 (representing
$0.10 per public share) (the “Extension Payment”) into the
Company’s trust account for its public stockholders. This deposit
enables the Company to extend the date by which the Company has to
complete its initial business combination from December 28, 2022 to
March 28, 2023 (the “Extension”). The Extension provides the
Company with additional time to complete its initial business
combination.
The Sponsor loaned the Extension Payment to the Company, which
loan is convertible, at the Sponsor’s discretion, into warrants
identical to the warrants issued in the Company’s private placement
that was consummated in connection with the Company’s initial
public offering.
About Direct Selling Acquisition Corp.
Direct Selling Acquisition Corp., led by Chief Executive Officer
Dave Wentz, is a special purpose acquisition company formed with
the purpose of entering into a business combination with one or
more businesses. While the Company may pursue an initial business
combination with a company in any sector or geography, it intends
to focus its search on domestically based businesses within the
direct selling industry.
Forward-Looking Statements
This press release may include, and oral statements made from
time to time by representatives of the Company may include,
“forward-looking statements” within the meaning of Section 27A of
the Securities Act of 1933, as amended, and Section 21E of the
Securities Exchange Act of 1934, as amended. Statements regarding
possible business combinations and the financing thereof, and
related matters, as well as all other statements other than
statements of historical fact included in this press release are
forward-looking statements. When used in this press release, words
such as “anticipate,” “believe,” “continue,” “could,” “estimate,”
“expect,” “intend,” “may,” “might,” “plan,” “possible,”
“potential,” “predict,” “project,” “should,” “would” and similar
expressions, as they relate to us or our management team, identify
forward-looking statements. Such forward-looking statements are
based on the beliefs of management, as well as assumptions made by,
and information currently available to, the Company’s management.
Actual results could differ materially from those contemplated by
the forward-looking statements as a result of certain factors
detailed in the Company’s filings with the Securities and Exchange
Commission (“SEC”). All subsequent written or oral forward-looking
statements attributable to us or persons acting on our behalf are
qualified in their entirety by this paragraph. Forward-looking
statements are subject to numerous conditions, many of which are
beyond the control of the Company, including those set forth in the
Risk Factors section of the Company’s registration statement and
prospectus for the Company’s initial public offering filed with the
SEC. The Company undertakes no obligation to update these
statements for revisions or changes after the date of this release,
except as required by law.
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version on businesswire.com: https://www.businesswire.com/news/home/20221228005391/en/
Direct Selling Acquisition Corp. Investor Relations
Contact: Ryan Bright, ir@dsacquisition.com
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