Direct Selling Acquisition Corp. Announces the Separate Trading of its Class A Common Stock and Warrants Commencing November 12, 2021

Rhea-AI Summary

Direct Selling Acquisition Corp. (NYSE: DSAQ.U) announced that starting November 12, 2021, the holders of 23 million units from its IPO can separately trade shares of Class A common stock and warrants. Separated shares will trade under the symbols DSAQ and DSAQ.WS, while non-separated units continue to trade as DSAQ.U. The offering was supported by BTIG, LLC as the bookrunner, and a registration statement was effective as of September 23, 2021. The Company aims to target businesses in the direct selling industry.

Positive

• Enables separate trading of Class A common stock and warrants, providing liquidity to investors.
• The initial public offering raised significant capital with 23 million units sold.

Negative

• No assurance is given that the separation of units will occur as indicated.

NEW YORK--(BUSINESS WIRE)-- Direct Selling Acquisition Corp. (NYSE: DSAQ.U) (the “Company”) announced that, commencing November 12, 2021, holders of the 23,000,000 units sold in the Company’s initial public offering may elect to separately trade the shares of Class A common stock and warrants included in the units. Any units not separated will continue to trade on the New York Stock Exchange (the “NYSE”) under the symbol “DSAQ.U,” and the separated shares of Class A common stock and warrants are expected to trade on the NYSE under the symbols “DSAQ” and “DSAQ.WS,” respectively. No fractional warrants will be issued upon separation of the units and only whole warrants will trade. Unitholders will need to have their brokers contact Continental Stock Transfer & Trust Company, the Company’s transfer agent, in order to separate the units into shares of Class A common stock and warrants.

The units were initially offered by the Company in an underwritten offering. BTIG, LLC acted as the sole bookrunner and I-Bankers Securities, Inc. acted as the co-manager of the offering. A registration statement relating to the units and the underlying securities was declared effective by the Securities and Exchange Commission (the “SEC”) on September 23, 2021.

The offering was made only by means of a prospectus. Copies of the prospectus related to this offering may be obtained by contacting BTIG, LLC, 65 East 55th Street, New York, NY 10022, or by email at ProspectusDelivery@btig.com.

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.

About the Company

The Company is a blank check company, also commonly referred to as a special purpose acquisition company, or SPAC, formed for the purpose of effecting a merger, share exchange, asset acquisition, share purchase, reorganization or similar business combination with one or more businesses or entities. We intend to leverage our team’s expertise to target domestically based businesses in the direct selling industry.

Forward-Looking Statements

This press release contains statements that constitute “forward-looking statements,” including with respect to the anticipated separation of the units into shares of Class A common stock and warrants. No assurance can be given that the units will be separated 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 and final prospectus relating to the Company’s 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.

View source version on businesswire.com: https://www.businesswire.com/news/home/20211109005491/en/

Direct Selling Acquisition Corp.

Contact:

Ryan Bright

ir@dsacquisition.com

Source: Direct Selling Acquisition Corp.

FAQ

What is Direct Selling Acquisition Corp. planning for November 12, 2021?

On November 12, 2021, Direct Selling Acquisition Corp. will allow holders to separately trade shares of Class A common stock and warrants.

What are the trading symbols for Direct Selling Acquisition Corp. after unit separation?

After separation, shares will trade under the symbols DSAQ for Class A common stock and DSAQ.WS for warrants.

Who managed the initial public offering of Direct Selling Acquisition Corp.?

The initial public offering was managed by BTIG, LLC as the bookrunner and I-Bankers Securities, Inc. as the co-manager.

What is the purpose of Direct Selling Acquisition Corp.?

The Company is a SPAC formed to target mergers and acquisitions in the direct selling industry.

When was the registration statement for Direct Selling Acquisition Corp. declared effective?

The registration statement was declared effective on September 23, 2021.