Digital World Acquisition Corp. Announces Date of Special Meeting of Stockholders and Record Date
- None.
- None.
MIAMI, FL / ACCESSWIRE / February 16, 2024 / Digital World Acquisition Corp. (NASDAQ:DWAC) ("Digital World," and/or the "Company") today announced that it will hold the special meeting of its stockholders (the "Special Meeting") to vote on the approval and adoption of the proposed business combination (the "Business Combination") with Trump Media & Technology Group Corp. ("TMTG") on March 22, 2024, at 10:00 a.m. Eastern Time via live audio webcast at www.virtualshareholdermeeting.com/DWAC2024SM.
Digital World stockholders of record as of the close of business on February 14, 2024 are entitled to attend and vote at the Special Meeting. The Business Combination is expected to close shortly after stockholder approval at the Special Meeting, subject to the satisfaction of other customary closing conditions.
"Almost one year ago management made a commitment to the shareholders," declared Eric Swider, the Chief Executive Officer of Digital World. "We committed to stay focused on a singular objective of delivering a proxy to vote on the merger of Digital World and TMTG. Today we are humbled and grateful to be able to deliver on that commitment. We know it has been a long road for our shareholders and we are eternally grateful for your trust and patience." Swider continued, "I want to extend the sincerest of gratitude to TMTG for their absolute professionalism, confidence and trust they put in our organization to deliver this proxy. Without their unwavering commitment to their platform and to our shareholders this would not have been possible. TMTG Chief Executive Officer Devin Nunes and his entire team have been relentless in pursuit of this endeavor. I am excited to see what the future brings should the shareholders approve this merger."
TMTG CEO Devin Nunes said, "Since our founding, Truth Social has focused on improving the user experience, and we are currently beta testing new feature sets. If we are able to complete our proposed merger, we believe it will accelerate enhancements to the platform. Overall, Truth Social's goal is to break through the Big Tech monopoly and provide a refuge from censorship and cancel culture. We aim to protect Americans' voices and defend their freedom as tech oligarchs and corporate media enforcers struggle to impose their narratives."
About Digital World Acquisition Corp.
Digital World Acquisition Corp. (Nasdaq:DWAC) is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. To learn more, visit www.dwacspac.com.
About TMTG
The mission of TMTG is to end Big Tech's assault on free speech by opening up the Internet and giving people their voices back. TMTG operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations.
Additional Information and Where to Find It
Digital World has filed with the SEC a registration statement on Form S-4 (as may be amended from time to time, the "Registration Statement"), which has been declared effective and which includes a preliminary proxy statement of the Company, and a prospectus in connection with the Business Combination. The definitive proxy statement and other relevant documents will be mailed to stockholders of Digital World as of the record date for voting on the Business Combination. Securityholders of Digital World and other interested persons are advised to read the preliminary proxy statement/prospectus, and amendments thereto, and, when available, the definitive proxy statement/prospectus in connection with Digital World's solicitation of proxies for the special meeting to be held to approve the Business Combination because these documents contain important information about Digital World, TMTG and the Business Combination. Digital World's securityholders and other interested persons will also be able to obtain copies of the Registration Statement and the proxy statement/prospectus, without charge, once available, on the SEC's website at www.sec.gov or by directing a request to: Digital World Acquisition Corp., 3109 Grand Ave, #450, Miami, FL 33133.
Participants in Solicitation
Digital World and TMTG and certain of their respective directors, executive officers, other members of management and employees, under SEC rules, may be deemed to be participants in the solicitation of proxies from the securityholders of Digital World in favor of the Business Combination. Securityholders of Digital World and other interested persons may obtain more information regarding the names and interests of Digital World's directors and officers in the Business Combination in Digital World's filings with the SEC, including in the definitive proxy statement/ prospectus, and the names and interests of TMTG's directors and officers in the proposed Business Combination in the Registration Statement. These documents can be obtained free of charge from the sources indicated above. TMTG and its officers and directors who are participants in the solicitation do not have any interests in Digital World other than with respect to their interests in the Business Combination.
Forward-Looking Statements
This Press Release contains certain forward-looking statements within the meaning of the federal securities laws with respect to the proposed Business Combination between the Company and TMTG. These forward-looking statements generally are identified by the words "believe," "project," "expect," "anticipate," "estimate," "intend," "strategy," "future," "opportunity," "plan," "may," "should," "will," "would," "will be," "will continue," "will likely result" and similar expressions, but the absence of these words does not mean that a statement is not forward-looking. Forward-looking statements are predictions, projections and other statements about future events that are based on current expectations and assumptions and, as a result, are subject to risks and uncertainties.
Many factors could cause actual future events to differ materially from the forward-looking statements in this Press Release, including but not limited to: (i) the risk that the Business Combination may not be completed in a timely manner, by Digital World's Business Combination deadline or at all, which may adversely affect the price of Digital World's securities, (ii) the failure to satisfy the conditions to the consummation of the Business Combination, including the approval of the Merger Agreement by the stockholders of Digital World, (iii) the risk that certain potential disputes and disagreements with the sponsor or related to certain TMTG stockholders may be not resolved and delay or ultimately prevent the consummation of the Business Combination, (iv) the lack of a third-party fairness opinion in determining whether or not to pursue the proposed Business Combination, (v) the occurrence of any event, change or other circumstance that could give rise to the termination of the Merger Agreement, (vi) the failure to achieve the minimum amount of cash available following any redemptions by Digital World stockholders, (vii) redemptions exceeding a maximum threshold or the failure to meet The Nasdaq Stock Market's initial listing standards in connection with the consummation of the contemplated transactions, (viii) the effect of the announcement or pendency of the Business Combination on TMTG's business relationships, operating results, and business generally, (ix) risks that the Business Combination disrupts current plans and operations of Digital World, (x) the outcome of any legal proceedings that may be instituted against TMTG or against Digital World related to the Merger Agreement or the Business Combination, (xi) the risk of any investigations by the SEC or other regulatory authority relating to any future financing, the Merger Agreement or the Business Combination and the impact they may have on consummating the transactions, (xii) Truth Social, TMTG's initial product, and its ability to generate users and advertisers, (xiii) changes in domestic and global general economic conditions, (xiv) the risk that TMTG may not be able to execute its growth strategies, (xv) risks related to the future pandemics and response and geopolitical developments, (xvi) risk that TMTG may not be able to develop and maintain effective internal controls, (xvii) costs related to the Business Combination and the failure to realize anticipated benefits of the Business Combination or to realize estimated pro forma results and underlying assumptions, including with respect to estimated stockholder redemptions, (xviii) Digital World's ability to timely comply with Nasdaq's rules and complete the Business Combination, (xix) risks that Digital World or TMTG may elect not to proceed with the Business Combination, and (xx) those factors discussed in Digital World's filings with the SEC, including in the Registration Statement. The foregoing list of factors is not exhaustive. You should carefully consider the foregoing factors and the other risks and uncertainties that are described in the "Risk Factors" section of the Registration Statement and in Digital World's Annual Report on Form 10-K, as amended, for the year ended December 31, 2022, as filed with the SEC on October 30, 2023 and January 9, 2024 (the "2022 Annual Report") and in other reports Digital World files with the SEC. You should not place undue reliance on any forward-looking statements, which are based only on information currently available to Digital World (or to third parties making the forward-looking statements).
These filings identify and address other important risks and uncertainties that could cause actual events and results to differ materially from those contained in the forward-looking statements. Forward-looking statements speak only as of the date they are made. Readers are cautioned not to put undue reliance on forward-looking statements, and while Digital World and TMTG may elect to update these forward-looking statements at some point in the future, they assume no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. Neither Digital World nor TMTG gives any assurance that Digital World, TMTG, or the combined company, will achieve its expectations.
Contact Information
Investor Relations
Name: Alex Cano
Email: investorrelations@dwacspac.com
SOURCE: Digital World Acquisition Corp.
View the original press release on accesswire.com
FAQ
When is the special meeting for Digital World Acquisition Corp. (DWAC) stockholders to vote on the proposed business combination with Trump Media & Technology Group Corp.?
What is the expected outcome after the stockholder approval at the Special Meeting?
Who expressed gratitude to the shareholders for their support in the press release?
What is the goal of Truth Social, as mentioned by TMTG CEO Devin Nunes?
