Direct Selling Acquisition registered to offer 20 million units at $10 each. A unit consists of one share of Class A common stock and one-half of one redeemable warrant; whole warrants exercisable for a sharee at $11.50.
The new SPAC in the filing said it will target domestically-based businesses within the direct selling industry with enterprise values from $500 million to $2.0 billion.
The SPAC is led by Chairman and CEO Dave Wentz, former CEO of USANA Health Sciences, a direct seller of science-based nutritional and personal care products.
BTIG is sole book-runner. The underwriters have an option to purchase up to 3 million additional units to cover over-allotments, if any.
Direct Selling intends to apply for a NYSE listing under DSAQ.U. Read more.
