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Digital World Acquisition Corporation

All articles tagged with #digital world acquisition corporation

business2 years ago•3 min saved

"Trump-Linked Stocks Soar as SPAC Buying Doubles for Truth Social"

Shares of Digital World Acquisition Corporation, the SPAC set to merge with Trump Media, surged 88 percent after Ron DeSantis dropped out of the Republican presidential race, bringing Donald Trump closer to securing the nomination. The stock's rise reflects investor optimism around Trump Media & Technology Group, which has been struggling financially. The pending merger between Digital World and Trump Media, delayed by SEC investigations, is still awaiting approval, with Digital World filing its third revision of the merger agreement. Additionally, Rumble, a conservative streaming media site and business partner of Trump Media, saw its shares rise 36 percent.

via The New York Times|

#business #digital-world-acquisition-corporation #ron-desantis

finance2 years ago•2 min saved

Trump-Linked SPAC Settles Fraud Charges with SEC for $18 Million

The Securities and Exchange Commission (SEC) has charged Digital World Acquisition Corporation (DWAC), a special purpose acquisition company (SPAC), for making material misrepresentations in forms filed with the SEC regarding its initial public offering and proposed merger with Trump Media & Technology Group Corp. The SEC found that DWAC failed to disclose its plan to acquire TMTG prior to the IPO and misled investors and the SEC. DWAC has agreed to a cease-and-desist order, pay an $18 million penalty if the merger transaction closes, and ensure that any future filings are accurate and complete.

via SEC.gov|

#digital-world-acquisition-corporation #finance #material-misrepresentations