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Benzinga
  • 2 years ago
The special purpose acquisition company Digital World Acquisition Corp which plans to take former US President Donald Trump's media company Trump Media & Technology Group public has been given another year, until September 8, 2024, to complete the merger deal. The merger has faced delays due to investigations by the Securities and Exchange Commission and Department of Justice into potential Securities Act violations. If completed, the merger would provide Trump Media & Technology Group access to over $1 billion in cash from DWAC institutional investors like hedge funds. Trump controls around 90% of the company. DWAC's stock price closed up slightly today but remains lower than its peak last March.
Transcript
00:00 It's Benzinga and here's what's on the block.
00:02 The special purpose acquisition company Digital World Acquisition Corp that plans to take
00:06 former US President Donald Trump's media company Trump Media and Technology Group public
00:11 has been given another year until September 8, 2024 to complete the merger deal.
00:16 Merger is phased delays due to ongoing investigations by the Securities and Exchange Commission
00:20 and Department of Justice into potential Securities Act violations.
00:24 If completed, the merger would provide Trump Media and Technology Group access to over
00:27 $1 billion in cash from DWAG institutional investors like hedge funds.
00:31 Trump controls around 90% of the company and DWAG's stock price closed up slightly today
00:35 but remains lower than its peak last March.
00:37 For all things money, visit Benzinga.com.
00:39 [BLANK_AUDIO]
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