Direct Selling Acquisition Corp.: debt financing — DSAQ extends deadline to June 28, 2023; 17.4M shares redeemed for $10.48; $1.92M note from sponsor

On March 24, 2023, DSAQ issued an unsecured promissory note in the principal amount of $1,920,000 (the “ Note ”) to the Sponsor. The Note does not bear interest and matures upon closing of DSAQ’s initial business combination (a “ Business Combination ”). In the event that DSAQ does not consummate a Business Combination, the Note will be repaid only from funds held outside of the Trust Account or will be forfeited, eliminated or otherwise forgiven.

On March 24, 2023, DSAQ held the Extension Meeting to approve an amendment to DSAQ’s amended and restated certificate of incorporation (the “ Charter Amendment ”) to extend the date (the “ Termination Date ”) by which DSAQ has to consummate a business combination from March 28, 2023 (the “ Original Termination Date ”) to June 28, 2023 (the “ Charter Extension Date ”) and to allow DSAQ, without another stockholder vote, to elect to extend the Termination Date to consummate a Business Combination on a monthly basis up to nine times by an additional one month each time after the Charter Extension Date, by resolution of DSAQ’s board of directors, if requested by the Sponsor, and upon five days’ advance notice prior to the applicable Termination Date, until March 28, 2024, or a total of up to twelve months after the Original Termination Date, unless the closing of a Business Combination shall have occurred prior thereto (the “ Extension Amendment Proposal ”).

The voting results for the Extension Amendment Proposal were as follows: The Extension Amendment Proposal For Against Abstain 21,085,468 2,124,913 875,800