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Direct Selling Corp. extends merger agreement deadline

EditorNatashya Angelica
Published 10/01/2024, 10:01 AM
DSAQ
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Direct Selling Acquisition Corp. (OTC:DSAQ), a special purpose acquisition company, has announced an amendment to its existing Business Combination Agreement with Aeroflow Urban Air Mobility Private Limited, Hunch Technologies Limited, FlyBlade (India) Private Limited, and HTL Merger Sub LLC, according to a filing with the Securities and Exchange Commission (SEC) on Tuesday.

The amendment, dated September 28, 2024, extends the "Termination Date" of the agreement from September 28, 2024, to December 27, 2024. This adjustment provides the parties involved additional time to finalize the proposed business combination.

Originally, Direct Selling Acquisition Corp. entered into the Business Combination Agreement on January 17, 2024. An initial amendment was made on June 28, 2024, which set the previous termination date now extended by the Second BCA Amendment.

The extension of the termination date suggests that while the merger has not yet been finalized, the parties remain committed to completing the transaction. The agreement is subject to various conditions, including regulatory approvals and the approval of the stockholders of the companies involved.

The business combination, if completed, would result in the combined entity operating under the Hunch Technologies Limited name. The financial terms and potential impact of the merger on the market have not been disclosed.

The SEC filing also indicates that Direct Selling Acquisition Corp. and the other parties involved will provide additional information about the transaction, including the filing of a registration statement and proxy materials, to be reviewed by stockholders ahead of a vote on the proposed business combination.

Direct Selling Acquisition Corp. specializes in blank check companies, which are development stage companies that have no specific business plan or purpose, or have indicated their business plan is to engage in a merger or acquisition with an unidentified company or companies.

This news is based on the latest 8-K filing by Direct Selling Acquisition Corp. with the SEC and does not constitute an offer or solicitation for the sale of any securities or the solicitation of any vote or approval.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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