Digital World Receives Compliance Notification from NASDAQ

Rhea-AI Summary

Digital World Acquisition Corp (DWAC) has announced it has cured its fee delinquency with NASDAQ, regaining compliance with listing standards. Consequently, a scheduled hearing for April 6, 2023, has been cancelled. This reinstatement enables DWAC to continue trading on the Nasdaq Stock Market. The company aims to execute mergers and similar business combinations. This announcement is a significant positive development for investors, as it alleviates concerns surrounding the company's listing status and allows for continued shareholder engagement.

Positive

• Cured fee delinquency with NASDAQ, regaining compliance with listing standards.
• Cancelled scheduled hearing on April 6, 2023, alleviating regulatory concerns.
• Continued trading on Nasdaq Stock Market, ensuring investor confidence.

Negative

• None.

MIAMI, FL / ACCESSWIRE / March 28, 2023 / Digital World Acquisition Corp (NASDAQ:DWAC) ("DWAC" or the "Company"), a SPAC, today announced that they have received a notice from NASDAQ stating that the Company's fee delinquency has been cured, and as a result the Company has regained compliance with the applicable listing standard. The scheduled hearing before the Hearings Panel on April 6^th, 2023, has been cancelled. The Company's stock will continue to be traded on the Nasdaq Stock Market.

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.

Forward-Looking Statements

This press release may include, and oral statements made from time to time by representatives of the Company may include "forward-looking statements" within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended. Statements regarding management succession planning, possible business combinations, and related matters, as well as all other statements other than statements of historical fact included in this press release are forward-looking statements. When used in this press release, words such as "anticipate," "believe," "continue," "could," "estimate," "expect," "intend," "may," "might," "plan," "possible," "potential," "predict," "project," "should," "would" and similar expressions, as they relate to us or our management team, identify forward-looking statements. Such forward-looking statements are based on the beliefs of management, as well as assumptions made by, and information currently available to, the Company's management. Actual results could differ materially from those contemplated by the forward-looking statements as a result of certain factors detailed in the Company's filings with the Securities and Exchange Commission ("SEC"). All subsequent written or oral forward-looking statements attributable to us or persons acting on our behalf are qualified in their entirety by this paragraph. Forward-looking statements are subject to numerous conditions, many of which are beyond the control of the Company, including those set forth in the Risk Factors section of the Company's Annual Report on Form 10-K for the fiscal year ended December 31, 2021, its Quarterly Reports on Form 10-Q for the periods ended March 31, 2022, June 30, 2022, and September 30, 2022, and other documents to be filed by the Company from time to time with the SEC. 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 may elect to update these forward-looking statements at some point in the future, it assumes no obligation to update or revise these forward-looking statements, whether as a result of new information, future events or otherwise. DWAC gives no assurance that it will achieve its expectations.

Contact Information

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

SOURCE: Digital World Acquisition Corp.

View source version on accesswire.com:
https://www.accesswire.com/746370/Digital-World-Receives-Compliance-Notification-from-NASDAQ

FAQ

What recent compliance news does DWAC have regarding NASDAQ?

DWAC cured its fee delinquency and has regained compliance with NASDAQ listing standards.

What was scheduled for April 6, 2023, regarding DWAC?

A hearing regarding DWAC's compliance was scheduled for April 6, 2023, but has been cancelled.

Will DWAC continue to be traded on the Nasdaq Stock Market?

Yes, DWAC will continue to be traded on the Nasdaq Stock Market following compliance with listing standards.