Item 5.07 Submission of Matters to a Vote of Security Holders
On March 22, 2023, Direct Selling Acquisition Corp. ("DSAQ") convened and then
adjourned until March 24, 2023 at 11:00 a.m., Eastern Time, without conducting
any other business, DSAQ's special meeting of stockholders (the "Special
Meeting") relating to its previously announced proposed extension of its
deadline to complete an initial business combination. The only proposal
submitted for a vote of the stockholders at the Special Meeting was the approval
of the adjournment of such meeting to a later date or dates (the "Adjournment
Proposal"). The Adjournment Proposal is described in greater detail in the
definitive proxy statement of DSAQ, which was filed with the Securities and
Exchange Commission (the "SEC") on March 2, 2023, as supplemented by the
additional definitive proxy materials filed on March 10, 2023 and March 17, 2023
(the "Extension Proxy Statement").
As of the close of business on February 21, 2023, the record date for the
Special Meeting, there were 23,000,000 shares of Class A common stock, par value
$0.0001 per share ("Class A Common Stock") and 5,750,000 shares of Class B
common stock, par value $0.0001 per share (the "Class B Common Stock", and
together with Class A Common Stock, the "Common Stock"), outstanding. Each share
of Common Stock was entitled to one vote on the Adjournment Proposal. The shares
of Class A Common Stock and Class B Common Stock were voted as a single class. A
total of 23,527,389 shares of common stock, representing approximately 81.83% of
the outstanding shares of common stock entitled to vote, were present in person
or by proxy, constituting a quorum to conduct business.
DSAQ' s stockholders approved the Adjournment Proposal by the votes set forth
below:
For Against Abstain
20,534,244 2,117,345 875,800
As set forth in the Extension Proxy Statement, the deadline by which DSAQ public
stockholders had to complete the procedures for electing to redeem their shares
of Class A Common Stock was 5:00 p.m., Eastern Time, on March 22, 2023
("Redemption Deadline"). The initial number of shares of Class A Common Stock
tendered for redemption prior to the Redemption Deadline was 18,510,506. The
deadline for stockholders to withdraw previously submitted redemption requests
is Friday, March 24, 2023, prior to 11:00 a.m., Eastern Time, subject to
approval by the board of directors of DSAQ.
Stockholders may make such request by contacting our transfer agent, Continental
Stock Transfer & Trust Company, at 917-262-2373, or
email proxy@continentalstock.com.
Item 9.01 Financial Statements and Exhibits.
(d) Exhibits
Exhibit
Number Description
104 Cover Page Interactive Data File (embedded within the Inline XBRL
document).
1
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