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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 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.
Shareholders in Digital World Acquisition Corp. voted Friday to approve a merger with Donald Trump’s social media company, a deal that could net the former president an eventual windfall of $3 ...
Prior to the merger, DWAC had been on the public market since 2021. At Tuesday's closing price of $57.99, Trump Media had a market cap of around $8 billion.
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 ...
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.
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
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.