Impending Deadline Looms For Merger Of Trump Media And Digital World
Portfolio Pulse from Bibhu Pattnaik
The merger deadline between Digital World Acquisition Corp. (NASDAQ:DWAC) and Trump Media and Technology Group (TMTG), the parent company of social media platform Truth Social, is approaching. If the merger isn't sealed by Sept. 8, Digital World may dissolve. The merger could unlock $1 billion for Trump Media. The SEC imposed a penalty on Digital World in July, alleging it had hidden plans to acquire the Trump company.
September 03, 2023 | 1:05 pm
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Digital World Acquisition Corp. (DWAC) faces a critical merger deadline with Trump Media and Technology Group (TMTG). If the merger isn't sealed by Sept. 8, DWAC may dissolve. The SEC imposed a penalty on DWAC in July for not disclosing its plans to acquire TMTG.
The impending merger deadline and the potential dissolution of DWAC if the merger isn't sealed by Sept. 8 could negatively impact DWAC's stock price in the short term. Additionally, the SEC penalty for not disclosing its plans to acquire TMTG could further negatively impact investor sentiment.
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