DWAC

The parent company of Donald Trump’s social media company, Truth Social, could soon become a multi-billion dollar public company, depending on a vote scheduled for Friday. Trump could stand to gain over $3 billion if the proposed merger goes through, which could be his ticket out of some hefty legal bills.The shareholders of Digital World Acquisition (DWAC), a special-purpose acquisition company formed to facilitate a private company going public, will vote on Friday on whether to approve the merger with Trump Media and…

Less than two years after it launched, Donald Trump’s social media site, Truth Social, might be headed for the internet graveyard. New federal filings show that Truth, like a lot of Trump businesses, has lost massive amounts of money ($73 million, in this case) and is drifting, inevitably, toward insolvency. The site’s business partners seem worried it won’t recoup its losses anytime soon.The embarrassing financial news was laid bare in a Securities and Exchange Commission filing made this week by Digital World…

The social media app will be developed by Trump Media and Technology Group (TMTG).Rafael Henrique | LightRocket | Getty ImagesShares of Digital World Acquisition Corp. — the shell company seeking to take former President Donald Trump's social media platform public — soared more than 50% on Friday following the company's announcement that it had settled fraud charges with the Securities and Exchange Commission for $18 million.This surge brought DWAC's stock to roughly $20, still a far cry from its highs above $95 in March…

Digital World Acquisition Corp. (DWAC), the Donald Trump-backed shell company angling to take the former president’s social media platform Truth Social public, has run into yet more trouble. The corporation has been warned it is in danger of being delisted from the NASDAQ stock exchange.DWAC hasn’t paid all of the necessary fees to keep itself posted on the stock market, according to a Securities and Exchange Commission document filed Wednesday. Because the company has defaulted on its payments, Nasdaq notified DWAC it…

This illustration photo shows Donald Trump's new social media app Truth Social's logo on a smartphone in Los Angeles, February 21, 2022.Chris Delmas | AFP | Getty ImagesThe blank check company that plans to take Trump Media and Technology Group and its Truth Social platform public said Tuesday that shareholders voted to delay a deadline for its merger with the former president's firm by several months.Shares of Digital World Acquisition Corp. rose more than 5% following a brief shareholder meeting announcing the delay.…

Photo: Chris Delmas (Getty Images)The shell company struggling to take Donald Trump’s Trump Media and Technology Group public just bought itself some desperately needed time. Thanks to a newshareholder vote, Digital World Acquisition Corp (DWAC) will now have until September 8, 2023 to complete its merger with the Truth Social parent companyMore than 65% of DWAC shareholders on Tuesday voted in favor of extending its merger agreement deadline with TMTG after delaying the vote six separate times. The extension vote,…

The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022.Dado Ruvic | ReutersDigital World Acquisition Corp., the shell company set to take Trump Media and Technology Group and its Truth Social platform public, adjourned a shareholder vote on the planned merger for a sixth time Thursday as its Dec. 8 liquidation date nears.DWAC needs 65% of its shareholders to approve an extension of the Trump Media merger to September 2023, a year beyond its…

A merger that would’ve made Donald Trump’s social media venture into a publicly traded company, and provided Truth Social with $1.3 billion in cash investment is crumbling, according to a report from Reuters. Shareholders have rejected a one-year extension to finalize the acquisition, “people familiar with the matter” told the outlet.The pending (and now possibly dead) deal is between Trump Media & Technology Group (TMTG), which owns Truth, and Digital World Acquisition Corp (DWAC), a special purpose acquisition…

The Truth social network logo is seen on a smartphone in front of a display of former U.S. President Donald Trump in this picture illustration taken February 21, 2022.Dado Ruvic | ReutersDigital World Acquisition Corp., the special purpose acquisition company that agreed to take Trump Media and Technology Group public, warned Monday that potential damage to former President Donald Trump's popularity could hurt his firm.The warning came in a securities filing that set a Sept. 6 shareholder meeting to determine whether to…

Photo: Tom Pennington (Getty Images)The angry Florida man who perpetually has “nothing to hide” is reportedly trying to squirm his way out of yet another potentially dubious business deal.New Florida state fillings first reported on by The Sarasota Herald-Tribune reportedly show Donald Trump—who once served as chairman and a board member of his burgeoning tech company Trump Media and Technology Group—jumped ship and bailed on his board seat just weeks before the company received subpoenasfrom the Securities and Exchange…