Welcome to our dedicated page for Digital World Acquisition news (Ticker: DWAC), a resource for investors and traders seeking the latest updates and insights on Digital World Acquisition stock.
Digital World Acquisition Corp. (Nasdaq: DWAC) is a special purpose acquisition company (SPAC) formed with the primary objective of merging, acquiring, or reorganizing with one or more businesses. Established as a blank check company, DWAC is strategically focused on executing significant business combinations to enhance shareholder value.
Core Business: Digital World focuses on facilitating mergers and acquisitions. The company recently entered into an Agreement and Plan of Merger with Trump Media & Technology Group Corp. (TMTG). Following the successful completion of this merger, Digital World will rebrand itself as Trump Media & Technology Group Corp., adopting the new ticker symbol 'DJT' on the Nasdaq Stock Market. TMTG operates Truth Social, a social media platform designed to provide a safe harbor for free expression amid increasing censorship by Big Tech companies.
Recent Achievements: The merger with TMTG, finalized on March 25, 2024, marked a pivotal achievement. This merger ensures that TMTG will continue as a wholly-owned subsidiary of Digital World. As a result, TMTG's common stock and public warrants began trading on Nasdaq under the new symbols 'DJT' and 'DJTWW', respectively.
Current Projects: TMTG has ambitious plans to develop and expand its offerings. The company is currently finalizing the development of its own content delivery network (CDN) to support live TV streaming services. This streaming platform will focus on providing high-quality news, religious channels, family-friendly content, and other programs suppressed on other platforms.
Financial Condition: DWAC and TMTG completed the Business Combination without accruing any debt, and TMTG now has over $200 million in the bank. This strong financial footing positions the company well for future growth and expansion of its platform and services.
Partnerships: The merger with TMTG has brought in strategic partnerships with several key entities. Legal counsel for the merger was provided by Paul Hastings LLP for Digital World and Nelson Mullins Riley & Scarborough LLP for TMTG. EF Hutton, LLC served as the sole underwriter and exclusive placement agent.
Products: TMTG, under the parent company Digital World, operates Truth Social, a platform dedicated to protecting free speech and providing an alternative to traditional Big Tech social media networks.
Digital World continues to focus on strategic business combinations and expanding its influence in the media and technology sectors. For more information, visit www.dwacspac.com.
Trump Media & Technology Group (TMTG) announced the launch of direct messaging (DM) on Truth Social, enabling users to send private text messages of up to 500 characters on iOS, Android, and web platforms. This new feature will allow users to interact one-on-one, and future updates will include options for emoji reactions and media attachments. Users can access DM by updating the app through the Apple App Store, Google Play Store, or Samsung Galaxy Store, or by using the Truth Social Web App.
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.
Digital World Acquisition Corp. (Nasdaq:DWAC) is urging stockholders to vote for an Extension Amendment at the upcoming Special Meeting on November 22, 2022. This amendment aims to extend the time to complete a business combination until September 8, 2023. Stockholders as of the August 12, 2022 record date can vote, even if shares were sold afterward. The company appreciates stockholder support and emphasizes the importance of each vote. For inquiries, stockholders are encouraged to contact the proxy solicitor, Alliance Advisors.
Digital World Acquisition Corp. (DWAC) announced the further adjournment of its special stockholder meeting, now set for November 22, 2022, to gather more votes for the Extension Amendment. This amendment seeks to extend the time for completing a business combination until September 8, 2023, providing an additional six months. As of now, stockholders overwhelmingly support the extension. The company encourages all eligible voters to participate through various voting channels to ensure their voices are counted.
Digital World Acquisition Corp. (Nasdaq:DWAC) urges stockholders to vote for the Extension Amendment to allow additional time for completing a business combination until September 8, 2023. The company emphasizes that every vote counts and encourages stockholders, even those who have sold shares since the record date of August 12, 2022, to participate in the upcoming Special Meeting on November 3, 2022. Voting instructions are provided for shares held in 'street' name, and the company highlights the importance of timely submissions for successful completion of its initial business combination.
Trump Media & Technology Group (TMTG) announced the launch of the Truth Social Android App, now available for download in the Google Play Store. This significant milestone enables users across the U.S. to access Truth Social on any device. TMTG CEO Devin Nunes expressed gratitude towards Google for their support, emphasizing the app's role in restoring free speech online. With this rollout, TMTG aims to broaden its user base and enhance accessibility for its platform.
Digital World Acquisition Corp. (NASDAQ:DWAC) has postponed its Special Meeting of stockholders from October 10, 2022, to November 3, 2022, to gather more votes for an Extension Amendment. This amendment seeks to extend the timeline to complete a business combination by up to 12 additional months, allowing for more flexibility in executing a deal. CEO Patrick Orlando emphasized the importance of stockholder participation and the overwhelmingly positive vote thus far. The record date for voting remains August 12, 2022, with additional voting options available.
Digital World Acquisition Corp. (Nasdaq:DWAC) is urging stockholders to vote FOR the Extension Amendment in the upcoming special meeting on October 10, 2022. This amendment aims to extend the period to finalize a business combination until September 8, 2023. Stockholders recorded as of August 12, 2022 are eligible to vote, even if they have sold shares since then. The company emphasizes that every vote counts and appreciates ongoing stockholder support as it works to complete its initial business combination.
Trump Media & Technology Group (TMTG) has announced that the Truth Social Android App is now available for download by U.S.-based Samsung smartphone users in the Samsung Galaxy Store. This marks a significant milestone as Samsung holds a 30% share of the U.S. smartphone market. The launch aims to enhance the app's accessibility and reach among users, expanding its user base considerably. For both new and existing users, the app can be downloaded directly from the Galaxy Store.
Digital World Acquisition Corp. (NASDAQ: DWAC) urges stockholders to vote for the Extension Amendment to allow more time to complete a business combination. This proposal, which extends the deadline until September 8, 2023, will be addressed at the special meeting on October 10, 2022. All stockholders as of the August 12, 2022 record date can vote. The company emphasizes that every vote matters, as they are diligently working to finalize their initial business combination with TMTG, a social media company.
FAQ
What is the market cap of Digital World Acquisition (DWAC)?
What is Digital World Acquisition Corp. (DWAC)?
What is the primary business of DWAC?
What recent achievement has DWAC accomplished?
What is Truth Social?
What are TMTG's plans for its streaming platform?
How is DWAC financially positioned after the merger?
Who provided legal counsel for the merger?
What is the significance of the new ticker symbol 'DJT'?
Where can I find more information about Digital World Acquisition Corp.?
Who is the current CEO of TMTG?
