Shareholders of Digital World Acquisition, the SPAC aiming to take former President Donald Trump’s tech and social-media platform public, are scheduled to vote March 22 on the long-delayed merger with Trump Media & Technology Group. Digital World shares surged Wednesday, Investor’s Business Daily reports.
Meanwhile, Trump is having trouble securing a nearly half a billion dollar bond to appeal his $454 million civil business fraud judgment.
The Miami-based SPAC has a history of postponing and rescheduling shareholder votes.
Digital World’s goal is to take Trump Media public in a reverse merger. Trump Media is the parent of the conservative social-media platform Truth Social. If the merger is completed, the new entity is likely to trade on the Nasdaq under a ticker such as TMTG.
The Donald Trump brand and the value of Digital World stock are closely related. Trump’s current status as the top Republican candidate for president figures squarely into the stock’s gains so far this year. Federal charges could potentially tarnish that brand, according to company filings, although so far that has not been the case. Read more.
