- DWAC's post-merger shares outstanding is expected to quadruple thirty days after the deal with TRUTH Social completes.
- As of last November, there are ~30 million shares of Class A shares and ~7.2 million shares of Class B shares outstanding.
- Thirty days post-merger, this total is expected to increase to over 170 million shares, excluding warrants.
- There are still many unknowns around TRUTH Social's expected margins, cash burn rate, and average revenue per user.
- At a current market cap of over $15 billion as a pre-revenue company, I believe DWAC is significantly overvalued.
For further details see:
Why DWAC Might Decline 60% Post-Merger