Form 4: Antara Capital Sells 477,600 Shares of Direct Selling Acquisition Corp. (DSAQ)

Antara Capital LP reports the sale of 477,600 shares of Direct Selling Acquisition Corp. (DSAQ) Class A Common Stock at $10.53 per share on April 27, 2023, reducing their direct holdings.

Summary

• On April 27, 2023, Antara Capital Master Fund LP sold 477,600 shares of Direct Selling Acquisition Corp. (DSAQ) Class A Common Stock in the open market.
• The sale price was $10.53 per share.
• Following the transaction, Antara Capital Total Return SPAC Master Fund LP directly holds 477,500 shares of Class A Common Stock.
• The Form 4 is filed on behalf of multiple entities including Antara Master Fund, Antara SPAC Fund, Antara Capital LP, Antara Capital GP LLC, Antara Capital Fund GP LLC, Antara Capital Total Return SPAC Fund GP LLC, and Himanshu Gulati.
• Antara Capital serves as the investment manager for Antara Master Fund and Antara SPAC Fund.
• Himanshu Gulati is the sole member of Antara Fund GP, SPAC Fund GP, and Antara GP.
• The reporting persons disclaim beneficial ownership of the reported securities except to the extent of their pecuniary interest.

Sentiment

Score: 5

Explanation: Neutral sentiment as it's a standard SEC filing reporting a transaction. The sale itself could be interpreted in various ways, but the document provides no further context.

Negatives

• Antara Capital reduced its holdings in Direct Selling Acquisition Corp.

Management Comments

• Each of the Reporting Persons disclaims beneficial ownership of the reported securities except to the extent of its pecuniary interest therein, and this report shall not be deemed an admission that the Reporting Persons, or any other person is the beneficial owner of the securities reported herein for purposes of Section 16 of the Securities Exchange Act of 1934, as amended, or for any other purpose.

Industry Context

Form 4 filings are standard disclosures required by the SEC when insiders or significant shareholders of a publicly traded company buy or sell the company's securities. This filing indicates a change in Antara Capital's ownership position in Direct Selling Acquisition Corp.

Stakeholder Impact

• The sale of shares by a significant holder like Antara Capital could potentially influence the market's perception of Direct Selling Acquisition Corp.

Key Dates