Digital World Acquisition in an amended proxy filing delivers “an urgent message” for shareholders, asking them to vote in favor of combining with Donald Trump’s media company. Voting on the deal has begun, although the formal meeting on the deal is set for March 22.
The deal with Trump Media & Technology Group was announced almost 2 1/2 years ago and has been dogged by controversies, executive in-fighting and federal investigations since then.
The language in the amended proxy is similar to the SPAC’s rhetoric when it urged shareholders to vote for a deadline extension on the deal at a time when Digital World was having trouble mustering the 65% of shareholders needed to approve the extension.
If the deal is ultimately approved and closes, it could provide a financial windfall of more than $3 billion to the former president, although his shares would be subject to a six-month lockup before he could cash out. Read more.
