Digital World Reported In A Filing Wed, It Had Received Termination Notices From Pipe Investors Representing ~ $191.5M Of The Pipe. As A Result, Together With Previously Reported Terminations, ~ $467M Of The Pipe Has Been Cancelled
Portfolio Pulse from Charles Gross
Digital World Acquisition Corp. (DWAC) has received termination notices from PIPE investors representing approximately $191.5 million. This, along with previously reported terminations, means that around $467 million of the PIPE has been cancelled.
October 12, 2023 | 10:12 am
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The termination of a significant portion of DWAC's PIPE could negatively impact the company's financial position and stock price in the short term.
PIPE (Private Investment in Public Equity) is a significant source of funding for companies. The termination of around $467 million of DWAC's PIPE means the company is losing a substantial amount of expected funding. This could negatively impact the company's financial position and potentially its stock price in the short term.
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