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Direct Selling Acquisition Corp. has priced its IPO at $10.00 per unit, offering 20,000,000 units on NYSE under the ticker symbol DSAQU. The IPO is expected to close on September 28, 2021, with each unit comprising one share of Class A common stock and one-half redeemable warrant. The company aims to pursue business combinations within the direct selling industry, led by CEO Dave Wentz. BTIG, LLC is the sole bookrunner, with an additional 3,000,000 units available for purchase by underwriters.
Positive
Successfully priced IPO at $10.00 per unit for 20,000,000 units.
Strategic focus on direct selling industry could enhance market position.
Potential to raise additional capital through over-allotment option of 3,000,000 units.
Negative
The market's reception of the IPO remains uncertain until completion.
Dependence on successful identification and execution of business combinations poses inherent risks.
NEW YORK--(BUSINESS WIRE)--
Direct Selling Acquisition Corp. (the “Company”) today announced the pricing of its initial public offering of 20,000,000 units at a price of $10.00 per unit. The units will be listed on the New York Stock Exchange (“NYSE”) and trade under the ticker symbol “DSAQ.U” beginning September 24, 2021. Each unit consists of one share of Class A common stock of the Company and one-half of one redeemable warrant with each whole warrant exercisable to purchase one share of Class A common stock at a price of $11.50 per share. Once the securities comprising the units begin separate trading, the Class A common stock and warrants are expected to be listed on NYSE under the symbols “DSAQ” and “DSAQ WS,” respectively. The offering is expected to close on September 28, 2021, subject to customary closing conditions.
Direct Selling Acquisition Corp., led by CEO 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.
BTIG, LLC is acting as the sole bookrunner for the offering. I-Bankers Securities, Inc. is acting as co-manager for the offering. The Company has granted the underwriters a 45-day option to purchase up to an additional 3,000,000 units at the initial public offering price to cover over-allotments, if any.
The offering is being made only by means of a prospectus. When available, copies of the prospectus may be obtained by contacting BTIG, LLC 65 East 55th Street, New York, NY 10022, or by email at ProspectusDelivery@btig.com.
A registration statement relating to the securities was declared effective by the U.S. Securities and Exchange Commission (the “SEC”) on September 23, 2021. This press release shall not constitute an offer to sell or the solicitation of an offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
This press release contains statements that constitute "forward-looking statements," including with respect to the initial public offering and search for an initial business combination. No assurance can be given that the offering discussed above will be completed on the terms described, or at all, or that the proceeds of the offering will be used as indicated. 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 for the initial public offering filed with the SEC. Copies are available on the SEC's website, www.sec.gov. The Company undertakes no obligation to update these statements for revisions or changes after the date of this release, except as required by law.
What is the IPO price and unit structure for DSAQU?
Direct Selling Acquisition Corp. has priced its IPO at $10.00 per unit, consisting of one share of Class A common stock and one-half redeemable warrant.
When is the expected closing date for the DSAQU IPO?
The IPO is expected to close on September 28, 2021.
What will be the trading symbols for DSAQU's stock and warrants?
The Class A common stock will trade under the symbol 'DSAQ' and the warrants under 'DSAQ WS'.
Who is leading Direct Selling Acquisition Corp.?
The company is led by CEO Dave Wentz.
What is the strategic focus of Direct Selling Acquisition Corp.?
The company intends to pursue business combinations primarily in the direct selling industry.
