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.
Digital World Acquisition Corp. (DWAC) has recommended shareholders vote in favor of the Extension Amendment to extend the deadline for completing a business combination by an additional year, until September 8, 2023. The company is actively encouraging participation, citing overwhelming positive feedback from voters thus far. Currently, DWAC has received requisite sponsor funding for an initial three-month extension, ensuring they have until at least December 8, 2022. DWAC asserts that this extension is crucial to secure a viable transaction, notably with Trump Media & Technology Group.
Digital World Acquisition Corp. (Nasdaq:DWAC) announced an additional deposit of $2.875 million from its sponsor, ARC Global Investments II LLC, into its trust account. This funding increases the per-share redemption price from approximately $10.20 to $10.30 and allows a three-month extension for completing a business combination, now due by December 8, 2022. The company also adjourned its Special Meeting to October 10, 2022, seeking more votes for a proposed Extension Amendment enabling up to 12 months for a business combination.
Trump Media & Technology Group (TMTG) has criticized the SEC for delaying the review of its proposed merger with Digital World Acquisition Corp. (DWAC). The statement claims the SEC's review has extended for 115 days without significant feedback, whereas the typical timeframe is 30 days. TMTG argues this delay is causing financial harm to DWAC investors, predominantly small retail shareholders, and calls for a fair and swift conclusion to the review process. The company urges the SEC to eliminate any political bias from its decision-making.
Digital World Acquisition Corp. (DWAC) announced the adjournment of its special stockholders' meeting to September 8, 2022, to vote on an Extension Amendment. This amendment aims to extend the deadline for completing a business combination by up to 12 additional months. Stockholders can vote by phone or internet, with the record date remaining as August 12, 2022. If the amendment is not approved, the sponsor will contribute $2,875,000 to extend the deadline by three months. This action is critical to ensure sufficient time for the company to finalize a business deal.
Digital World Acquisition Corp. (NASDAQ: DWAC) urges stockholders to vote at the upcoming Special Meeting on September 6, 2022, regarding the Extension Amendment. This proposal aims to extend the deadline for completing a business combination by up to 12 additional months, allowing more time to finalize plans. The company has introduced a new telephone line (786-206-8970) for easier voting assistance. Stockholders are encouraged to vote FOR the extension to avoid potential challenges in completing the merger with TMTG, a social media company.
Digital World Acquisition Corp. (NASDAQ:DWAC) announced plans to enhance its media presence by sharing updates on TruthSocial and Reddit. The upcoming Special Meeting on September 6, 2022, aims to secure approval for an Extension Amendment, allowing a business combination deadline extension by up to 12 months. CEO Patrick Orlando emphasized the importance of stockholder participation in voting for the extension, which he believes will facilitate a successful merger with TMTG. Stockholders are encouraged to vote before the meeting.
On August 30, 2022, TMTG announced its commitment to comply with Google’s policies for the Truth Social Android App while maintaining a free speech environment. The company highlights its robust content moderation policies compared to competitors who violate Google’s guidelines. TMTG asserts that Truth Social has zero tolerance for inappropriate content and expresses frustration over the app's current absence from the Google Play Store. The firm seeks prompt approval from Google to ensure all users have access to its platform.
Digital World Acquisition Corp. (Nasdaq:DWAC) has announced that stockholders as of August 12, 2022 will have access to internet and telephone voting by August 30, 2022. The company urges stockholders to vote FOR the Extension Amendment, allowing an extension of time to complete a business combination by up to 12 additional months, until September 8, 2023. The virtual Special Meeting is scheduled for September 6, 2022, at 12:00 p.m. ET. The company stresses the importance of every vote, highlighting the potential need for extended time to finalize their business strategies.
Digital World Acquisition Corp. (NASDAQ: DWAC) has filed a definitive proxy statement to hold a special meeting on September 6, 2022, seeking stockholder approval to amend its charter. This amendment allows an extension of the time to finalize a business combination by up to 12 months, from September 8, 2022, to September 8, 2023. Shareholders of record as of August 12, 2022, are urged to vote on this matter. The company emphasizes the significance of each vote, with voting options available via telephone, online, or by mail.
On August 23, 2022, Trump Media & Technology Group (TMTG) announced a partnership with Rumble to integrate Rumble Ads on Truth Social, enabling businesses to advertise on the platform. This collaboration marks Truth Social as the first major customer for Rumble Ads, highlighting its potential to connect advertisers with an engaged user base. TMTG encourages interested advertisers to sign up, aiming to position Truth Social as a viable alternative to larger tech platforms.
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