Plano-based SPAC targets direct selling businesses as part of planned $200 million IPO - NewsBreak

A Plano-based blank check company filed for a $200 million initial stock offering, hoping to target direct selling businesses to take public. Direct Selling Acquisition plans to seek businesses with values between $500 million and $2 billion. Special acquisition companies, known as SPACs, look for fast-growing companies to merge with and take public. Investors in the SPAC buy shares in the new company and later decide whether to keep the shares or get their initial investment back with interest.