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DWAC agreed to merge with TMTG in October 2021 but failed to complete the deal by a September 2022 deadline, as U.S. financial regulators scrutinized DWAC's disclosures to investors.
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.
DWAC shares were trading for just over $49.50 on Friday morning, putting the value of that stake at roughly $4 billion. (Lock-up rules would prevent him from accessing any of that money until six ...
Tuesday's news was just the latest chapter in DWAC's attempt to delay the merger. Shareholders had been asked to gather six times previously — on Sep. 6, Sept. 8 (three times), Oct. 10, and Nov ...
A November 2023 DWAC financial disclosure expressed substantial doubt about TMTG's ability to meet its financial obligations, showing a $31.5 million loss since inception. [ 26 ] [ 27 ] [ 28 ] On November 21, 2023, TMTG filed a lawsuit seeking $1.5 billion in damages from 20 media outlets for falsely reporting a $73 million loss.
According to an SEC filing from DWAC, Trump Media lost $49 million in the first nine months of last year and brought in $3.4 million in revenue. ... Click here for the latest stock market news and ...
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