With the clock ticking on a Sept. 8 termination deadline, Digital World Acquisition has hired Alliance Advisor, a shareholder engagement and solicitation firm, to help get the votes needed to extend the SPAC’s runway for completing a merger with Trump Media & Technology Group.
The deal has been gestating for nearly two years. The SPAC’s last extension, approved by shareholder vote in November last year, cleared the goal posts only after six adjournments.
The SPAC needs at least 65% of shares outstanding to vote in favor of another extension. The current proposal calls for moving the deadline to September 2024. The shareholders meeting to vote on the extension is Sept. 5, immediately after the long Labor Day weekend.
Digital World has said it can be challenging to engage retail investors to vote on procedural matters such as stretching out the deadline. Read more.
