Digital World Acquisition registered today with the SEC to offer 10 million units at $10 each.
A unit consists of one share of stock, one-half of one redeemable warrant and one right. Each whole warrant is execrisable for a share at $11.50. Each right entitles the holder to receive one-tenth of one share of Class A common stock upon consummation of a business combination.
Kingswood Capital Markets is sole book-running manager for the offering. The underwriters have a 45-day option to purchase up to an additional 1.5 million units to cover any over-allotments.
Digital World intends to focus on middle market and emerging growth technology-focused companies in the Americas, in SaaS and technology or fintech and financial services.
The SPAC is led by Chairman and CEO Patrick Orlando, who is also CEO of SPAC Yunhong International, as well as Benessere Capital Acquisition and Maquia Capital Acquisition. He is the CEO of Benessere Capital, an investment consulting and investment banking firm he founded in Miami in October 2012.
The SPAC intends to apply for a Nasdaq listing under DWACU. Read more.
