Plano, Texas, December 28, 2022–(BUSINESS WIRE)–Direct Selling Acquisition Corp. (NYSE: DSAQ) (the “Company”) today announced that its sponsor, DSAC Partners LLC (the “Sponsor”), has deposited an additional US$2,300,000 (equivalent to one share per public $0.10 per share) (hereinafter referred to as the “Deferred Payment”) is responsible to its public shareholders. This deposit enables the Company to extend the date by which the Company must 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 lends the deferred payment to the Company, and the Sponsor may, at its sole discretion, convert this loan into warrants identical to those issued in the private placement completed by the Company’s IPO.
About Direct Selling Acquisition Corp.
Direct Selling Acquisition Corp., led by CEO Dave Wentz, is a special purpose acquisition company formed for the purpose of a business combination with one or more businesses. While the Company may seek an initial business combination with a company in any industry or region, it intends to focus its search on domestic operations within the direct selling industry.
This press release may include, and oral statements made from time to time by representatives of the Company, which 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 Act of 1934, as amended. Statements regarding possible business combinations and their financing and related matters, and all other statements other than statements of historical fact contained in this press release, are forward-looking statements. When words such as “anticipate,” “believe,” “continue,” “may,” “estimate,” “anticipate,” “intend,” “may,” “likely,” “plan” are used in this press release, ” “May,” “potential,” “forecast,” “project,” “should,” “will” and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on management’s beliefs, assumptions made by company management and information currently available. Actual results may differ materially from those anticipated in 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 attributed to us or persons acting on our behalf are qualified by this paragraph. Forward-looking statements are subject to a number of conditions, many of which are beyond the company’s control, including those set forth in the risk factors section of the company’s registration statement filed with the Securities and Exchange Commission and the company’s initial public offering prospectus. The company undertakes no obligation to update these statements for revisions or changes after the date of this press release, except as required by law.
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