Direct Selling Acquisition Seeks 3-Month Extension, will Convert Class B Stock

Direct Selling Acquisition shareholders are expected to vote Thursday on a deadline extension proposal that would give the SPAC until June 28 to complete a deal. The company has a $223 million merger agreement with Hunch Technologies and Aeroflow Urban Air Mobility.

Aeroflow Urban Air Mobility is incorporated in , and Hunch Technologies is incorporated in Ireland. 

The transaction implies a a pre-money market capitalization of $150 million.

If approved, Hunch Technologies is expected to list on the New York Stock Exchange under the symbol HNCH.

An investor with majority economic, non-voting interest in the SPAC's sponsor has committed to investing up to $20 million in the form of equity purchases in DSAQ subject to non-redemption, convertible notes and convertible preferred shares.

In connection with the extension vote, the SPAC's sponsor expects to convert 5,749,000 Class B shares into Class A shares on a 1-for-1 basis, according to the filing. Read more.


Source: Direct Selling Acquisition Seeks 3-Month Extension, will Convert Class B Stock