Digital World Acquisition Corp. Urges All Stockholders to Promptly Vote FOR the Extension and Announces Postponement of its Special Meeting of Stockholders to Provide Additional Time to Approve an Extension of its Initial Business Combination Deadline
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Urges All Stockholders to Promptly Vote FOR the Extension Amendment that Will Provide the Company Additional Time to Complete a Business Combination - EVERY VOTE COUNTS!
MIAMI, FL / ACCESSWIRE / August 17, 2023 / Digital World Acquisition Corp. (Nasdaq:DWAC) (the "Company" or "DWAC") announced today that the special meeting of stockholders (the "Special Meeting"), which was originally scheduled for August 17, 2023, is being postponed to 10:00 a.m. Eastern Time on September 5, 2023.
The Special Meeting is for stockholders to consider amending the Company's amended and restated certificate of incorporation as further amended on November 22, 2022, to extend, upon the approval by the Company's board of directors, the period of time for the Company to (i) consummate a merger, capital stock exchange, asset acquisition, stock purchase, reorganization, or similar business combination involving the Company and one or more businesses, (ii) to cease its operations if it fails to complete such business combination, and (iii) to redeem or repurchase
The record date for the stockholders' meeting to vote on the Extension remains July 10, 2023 (the "Record Date"). Stockholders who have previously submitted their proxy or otherwise voted and who do not want to change their vote need not take any action. Stockholders as of the Record Date can vote, even if they have subsequently sold their shares.
If stockholders have any questions or need assistance, please call Alliance Advisors at 877-728-4996.
"Extending the combination deadline is another crucial step toward our proposed merger with Trump Media & Technology Group Corp.," said Eric Swider, CEO of DWAC. "Our SPAC is at a defining crossroads. The proposal to approve the Extension, giving us time to potentially complete the business combination with Trump Media & Technology Group Corp., isn't just a formality; it's a decision deeply rooted in our shared vision for freedom of speech, innovation, and growth. As the Special Stockholders Meeting approaches, I earnestly urge each stockholder to cast their vote in favor of this extension. Every vote is essential for our ability to progress with the merger," added Mr. Swider.
"TMTG remains committed to the merger and is excited by the possibilities we expect it to unlock," said TMTG CEO Devin Nunes. "We look forward to getting this deal done as soon as possible, in partnership with DWAC, and moving forward to the next stage of our company's growth."
If the Extension is not approved and the Company does not consummate an initial business combination by September 8, 2023, in accordance with its charter, it will (i) cease all operations except for the purpose of winding up, (ii) as promptly as reasonably possible but not more than ten business days thereafter subject to lawfully available funds therefor, redeem
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
Trump Media & Technology Group Corp. ("TMTG") is a social media and technology company. Truth Social, TMTG's first product, is a high-growth social media platform and a Big Tech alternative that encourages an open, free, and honest global conversation without discriminating on the basis of political ideology. To learn more, visit www.tmtgcorp.com.
Additional Information and Where to Find It
DWAC has filed with the SEC a registration statement on Form S-4 (as may be amended from time to time, the "Registration Statement"), which includes a preliminary proxy statement of the Company, and a prospectus in connection with a proposed business combination (the "Business Combination") with TMTG. The definitive proxy statement and other relevant documents will be mailed to stockholders of DWAC as of a record date to be established for voting on the Business Combination. Securityholders of DWAC 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 DWAC's solicitation of proxies for the special meeting to be held to approve the Business Combination because these documents will contain important information about DWAC, TMTG and the Business Combination. DWAC'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.
DWAC has also filed a definitive proxy statement with the SEC with respect to the proposed extension of its liquidation date. The definitive proxy statement for the extension of the liquidation date was mailed to stockholders of DWAC. Securityholders of DWAC and other interested persons are advised to read the definitive proxy statement and any amendments thereto, in connection with DWAC's solicitation of proxies for the special meeting to be held to approve the extension of the liquidation date because these documents contain important information. DWAC's securityholders and other interested persons may also obtain copies of the definitive proxy statement, without charge, 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
DWAC 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 DWAC in favor of the approval of the proposed extension and the Business Combination. Securityholders of DWAC and other interested persons may obtain more information regarding the names and interests of DWAC's directors and officers in the Business Combination in DWAC's filings with the SEC, including in the definitive proxy statement and the Registration Statement, 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 do not have any interests in DWAC or the proposed extension other than with respect to their interests in the Business Combination, to the extent the extension is effectuated.
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 and the securities purchase agreements (the "SPAs") with certain institutional investors (the "PIPE Investors") pursuant to which the PIPE Investors agreed to purchase up to an aggregate of 1,000,000 shares of Digital World's Series A Convertible Preferred Stock (the "Preferred Stock") for a purchase price of
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 DWAC 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 DWAC nor TMTG gives any assurance that DWAC, TMTG, or the combined company, will achieve its expectations.
Contact:
Alex Cano
info@dwacspac.com
SOURCE: Digital World Acquisition Corp.
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