Trump SPAC Deal Nears End Days: Will Sept. 5 Mark Its Demise?
Portfolio Pulse from Chris Katje
The merger between Trump Media & Technology Group (TMTG) and Digital World Acquisition Corporation (DWAC) has faced several setbacks and regulatory pressure since its announcement in October 2021. The merger approval vote has been pushed back to Dec. 31, 2023. DWAC faces a deadline of Sept. 8, 2023, to obtain shareholder approval to extend the merger to September 2024 or it faces liquidation. DWAC stock has been highly volatile in 2023, with several spikes around Trump's four indictments.
August 21, 2023 | 6:22 pm
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DWAC faces a critical deadline to extend the merger with TMTG or risk liquidation. The stock has been highly volatile, influenced by Trump's legal issues.
The merger between DWAC and TMTG has faced several setbacks and regulatory pressure, pushing the approval vote to Dec. 31, 2023. DWAC needs to obtain shareholder approval by Sept. 8, 2023, to extend the merger or it faces liquidation. This uncertainty, coupled with the volatility around Trump's legal issues, could negatively impact the stock in the short term.
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