Direct Selling Acquisition Corp.
DSAQ-WT
New York Stock Exchange0.00
USD
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Direct Selling Acquisition Corp.
DSAQ-WT
(New York Stock Exchange)
Recent
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ROIC.AI
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in mil. unless spec.- Similar Companies
- Business
- Direct Selling Acquisition Corp. Direct Selling Acquisition Corp. is a blank check company, or special purpose acquisition company (SPAC), whose sole purpose is to effect a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, with a particular focus on domestically based targets within the direct selling industry; it currently conducts no significant operations and generates no revenues. Incorporated on March 9, 2021, as a Delaware corporation and headquartered at 5800 Democracy Drive in Plano, Texas, the company raised $230 million in its initial public offering in September 2021 through the sale of 23 million units, each comprising one share of Class A common stock and one-half of a redeemable warrant exercisable at $11.50 per share. DSAQ-WT represents the publicly traded warrants associated with those units. Recent major developments include the January 2024 announcement of a proposed $223 million business combination with Hunch Mobility (encompassing Aeroflow Urban Air Mobility Private Limited, Hunch Technologies Limited, and FlyBlade (India) Private Limited), involving a business combination agreement with a public company successor entity (PubCo) and a merger sub; subsequent amendments extended the completion deadline to March 27, 2025, to secure regulatory approvals amid delays; earlier extensions of the initial business combination deadline were funded by sponsor DSAC Partners LLC deposits totaling several million dollars in 2022 and 2023; a non-binding letter of intent for an urban mobility sector deal was noted in 2023; and in April 2024, the company voluntarily delisted its common stock and units from the New York Stock Exchange due to non-compliance with listing standards, transferring to OTC Markets' Pink Market (with OTCQX application pending), where its Class A common stock trades under DSAQ, units under DSAQ.U, and warrants under DSAQ-WT while remaining subject to SEC reporting requirements.