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Digital World Acquisition Corp. (DWAC), founded in 2021, was an American special-purpose acquisition company (SPAC), a shell corporation listed on a stock exchange with the purpose of acquiring (or merging with) a private company, thus making the private company public without going through the initial public offering process, which often carries significant procedural and regulatory burdens.
DWAC stock has been largely stuck in neutral for the past year, trading in the $13-$17 range. About a month ago, it began to climb sharply, much like a meme stock, more than doubling its price in ...
DWAC first began selling stock more than 13 months ago with shareholders, many of whom are Trump's political supporters, seeing the stock trade bounce between highs of well over $100 per share and ...
Former President Donald Trump was accused in a lawsuit Wednesday of trying to “drastically dilute” the value of stock shares in his social media company held by the firm’s co-founders ...
A November 2023 financial disclosure by DWAC indicated that Truth Social had made a cumulative loss of at least $31.5 million since its inception. [20] In March 2024, DWAC shareholders voted to merge with TMTG, with the merged company trading on NASDAQ under the stock ticker DJT. [21] [22]
DWAC merged in 2024 with Trump Media, the company that launched Truth Social in 2022. A subsequent article by The Philadelphia Inquirer explained that as a market-maker, SIG also shorted the stock, per common market-maker practice, and did not hold an economic position in Trump Media but profited by managing trades in shares and derivatives ...
The SEC had said DWAC was found to have violated antifraud provisions of federal securities laws. The company had agreed to a cease-and-desist order and to pay an $18 million penalty if it closes ...
DWAC may refer to: DWAC-FM, a radio station in Naga, Philippines; DWAC-TV, a television station in Manila, Philippines; Digital World Acquisition Corp., a special-purpose acquisition company that eventually merged with Trump Media & Technology Group; Devil Without a Cause, a 1998 album by Kid Rock or its title track