Digital World Acquisition, a SPAC that intends to take former President Trump’s fledgling media company public, filed an 8-K disclosing a few more layers of detail about the deal. The filing covers the merger, voting and lock-up agreements between the parties.
Trump Media & Technology Group shareholders would have a contingent right to receive up to an additional 40 million earnout shares of the SPAC’s common stock.
The SPAC said it may pursue PIPE financing, which had not previously been mentioned.
Still no information on TMTG management or even the most rudimentary outline of its business plans, services to be offered or prospects of becoming profitable.
The 8-K is signed by Digital World CEO Patrick Orlando, the only individual named in the filing. Read more.
