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SPAC Direct Selling Acquisition Corp. (NYSE:DSAQ) said that it has entered into a non-binding letter of intent for a possible merger with an urban mobility company.
DSAQ didn’t disclose the name of the target company. It added that it plans to adjourn a special shareholders meeting to be held on March 22 to March 24. Shareholders are slated to vote on extending the SPAC’s deadline for consummating a business combination to June 28 from March 28, according to a filing.
DSAQ went public in September 2021, raising around $230M. The SPAC’s deadline was extended to March 28 following a shareholders vote in December.