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 CEO Devin Nunes expressed his profound sadness over the passing of Congresswoman Jackie Walorski of Indiana, along with her aides, Zach Potts and Emma Thomson. Nunes honored Walorski's dedication to her constituents and her impactful work on the Ways and Means Committee. He remembered her as a passionate public servant who particularly championed children's causes. Nunes described her as a close friend and conveyed his prayers for her family and the families of her aides during this tragic time.
Trump Media & Technology Group announced the availability of its Truth Social Android app for pre-order on the Google Play Store as of August 3, 2022. This new app allows U.S.-based Android users to directly download Truth Social conveniently to their devices, expanding access beyond web connectivity. The platform, focused on free speech, can also be accessed through its website truthsocial.com.
Trump Media & Technology Group (TMTG) announced a major upgrade to its social media platform, Truth Social, on July 7, 2022. The update includes new features such as a Profile Carousel for easy access to popular accounts, a Suggested Profiles Carousel, an Alerts Bell for notifications, enhanced video uploads (10 minutes, 300 MB), polling capabilities, support for animated GIFs, and the ability to pin posts. CEO Devin Nunes emphasized the commitment to providing a user-friendly platform without censorship, promising further enhancements in the future.
Trump Media & Technology Group announced plans to enhance Truth Social with a significant update scheduled for next week. The company is committed to cooperating with ongoing inquiries regarding its planned merger and will comply with recent subpoenas. Importantly, these subpoenas do not target the company's Chairman or CEO, which may alleviate some investor concerns about leadership scrutiny.
Trump Media & Technology Group (TMTG) has responded to Digital World Acquisition Corp.'s SEC filing dated June 27, affirming its commitment to restoring free expression for Americans. TMTG emphasized ongoing efforts to enhance the growth of Truth Social by onboarding new users and introducing new features. The company expressed readiness to cooperate with regulatory oversight that aligns with the SEC's role in protecting retail investors.
Digital World Acquisition Corp. (DWAC) is actively pursuing its business combination with Trump Media & Technology Group (TMTG), aiming to offer approximately $1.25 billion in net proceeds at closing, contingent on stockholder participation. Digital World is cooperating with the SEC to facilitate investigations regarding the merger. The outcome will significantly impact both companies' futures, as they navigate various regulatory challenges and potential stockholder redemptions, while the completion of the merger remains uncertain.
Trump Media & Technology Group has officially launched the Truth Social Web App, enabling users across the United States to access Truth Social via any Internet-connected device. This launch precedes the previously anticipated target date of May 31, 2022. Both new and existing users can sign up and access the platform through truthsocial.com. This initiative aims to enhance accessibility for users, potentially expanding the platform's reach and user engagement.
Digital World Acquisition Corp. (Nasdaq: DWAC) announced the filing of a registration statement with the SEC, marking a significant step towards its merger with Trump Media & Technology Group Corp. (TMTG). This follows the definitive merger agreement established on October 20, 2021. The transaction is expected to close in the second half of 2022, pending certain conditions, and will provide TMTG with approximately $1.25 billion in net proceeds to support the development of its TruthSocial app.
Trump Media & Technology Group (TMTG) has launched an email alert function on its investor relations website, enabling interested parties to receive timely news updates. TMTG is the creator of TruthSocial, recognized as one of the fastest-growing social media platforms, emphasizing open and honest dialogue without political bias. In October 2021, TMTG entered a merger agreement with Digital World Acquisition Company (NASDAQ: DWAC). For more information, please visit TMTG's official website.
Rumble has successfully migrated Truth Social to its cloud infrastructure, marking a significant partnership with Trump Media & Technology Group (TMTG). This transition enhances Truth Social's scalability and freedom from cancel culture, with Rumble positioning itself as a premier provider of cloud services aimed at fostering free speech online. Rumble's CEO Chris Pavlovski expressed excitement over this collaboration, while TMTG's CEO Devin Nunes highlighted the significance of this partnership in challenging Big Tech's dominance.
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