DWAC - What's Going On With Digital World Acquisition Stock? | Benzinga
Digital World Acquisition Corp. (NASDAQ:DWAC) shares are trading higher Friday as shareholders are set to vote on the proposed business combination with Trump Media & Technology Group (TMTG).
The Details:
Digital World is scheduled to hold a special stockholder meeting to vote on the proposed business merger with TMTG on Friday. If approved, Digital World will undergo a merger with Trump Media & Technology Group, with TMTG becoming a wholly owned subsidiary of Digital World.
Following the completion of the merger, Digital World will undergo a name change to “Trump Media & Technology Group Corp.”
Upon merger approval, Trump Media would gain immediate access to 87.5 million shares, along with an additional $30 million worth of shares if the stock maintains a value above $17.50 for 20 consecutive trading days.
Trump’s potential ownership of 127.5 million shares could translate to an estimated value of around $5.6 billion based on current market prices.
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