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The vote by DWAC shareholders comes about 2½ years after the so-called special purpose acquisition company announced plans to merge with Trump Media & Technology Group, the private firm that owns ...
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.
In anticipation of its merger with Trump Media, trading of DWAC shares had embodied the same kind of frenzy shown in Tupperware’s stock surge last July, or that of meme stocks AMC Entertainment ...
The SEC has cleared the merger of Trump Media & Technology Group (which owns Truth Social) and Digital World Acquisition Corp. (DWAC), a SPAC which plans to bring the company public. That could ...
After DWAC’s merger with Trump Media was made public in October 2021, the stock and warrant holdings significantly increased in value. The defendants and the individuals they tipped then sold ...
In October 2021, Trump announced that he had created TMTG through a SPAC merger with DWAC that they had entered into a merger agreement to make TMTG a publicly traded company and that they would create a social media company to rival Twitter.
DWAC has been left with close to $300 million in funds it raised with its initial public offering in 2021, but that money is earmarked to go to TMTG once their merger gets completed.
Digital World Acquisition (DWAC) shareholders finally got an answer on the blank check company's effort to delay their merger with former President Donald Trump’s social media firm.