Digital World Acquisition Corp. Announces Voting Results of Special Meeting to Approve the Extension Amendment

Rhea-AI Summary

Digital World Acquisition Corp. (NASDAQ:DWAC) announced that its stockholders voted overwhelmingly in favor of the Extension Amendment to extend the time for completing a business combination until September 8, 2023. This proposal received approximately 98% approval from shareholders, representing about 66% of outstanding shares as of the record date, August 12, 2022. A full report on the voting results will be filed with the Securities and Exchange Commission.

Positive

• 98% approval for Extension Amendment indicates strong shareholder support.
• Extension until September 2023 allows more time for a potential business combination.

Negative

• Extension suggests possible delays in finalizing a business combination.

MIAMI, FL / ACCESSWIRE / November 23, 2022 / Digital World Acquisition Corp. (NASDAQ:DWAC) ("Digital World" or the "Company") announced today that the Company's stockholders voted in favor of the proposal to amend its amended and restated certificate of incorporation ("Extension Amendment") to extend the period of time available to complete a business combination, in three-month increments, until September 8, 2023 or such earlier date as determined by the Company's Board of Directors, at the special meeting of its stockholders that took place November 22, 2022 at 12:00 pm ET. The Extension Amendment was approved by a vote of approximately 98% of the shares of common stock voted, which represented approximately 66% of the outstanding shares of common stock on August 12, 2022, the record date. A Current Report on Form 8-K disclosing the full voting results will be filed with the Securities and Exchange Commission.

About Digital World Acquisition Corp.

Digital World (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.

Contact Information

Investor Relations:
Name: Alex Cano
Email: investorrelations@dwacspac.com

SOURCE: Digital World Acquisition Corp.

View source version on accesswire.com:
https://www.accesswire.com/728184/Digital-World-Acquisition-Corp-Announces-Voting-Results-of-Special-Meeting-to-Approve-the-Extension-Amendment

FAQ

What is the purpose of Digital World Acquisition Corp.'s Extension Amendment?

The Extension Amendment is intended to provide additional time to complete a business combination.

How much shareholder support did the Extension Amendment receive?

The Extension Amendment received approximately 98% approval from voting shareholders.

When is the new deadline for completing the business combination for DWAC?

The new deadline is September 8, 2023.

What percentage of shares were voted in favor of the Extension Amendment?

Approximately 66% of the outstanding shares voted in favor.