Trump-linked SPAC files for resale of up to 100 million shares -Breaking
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© Reuters. FILE PHOTO. Former President Donald Trump addresses a rally in support of Ohio Republican candidates before their primary election on May 3. The event was held at Delaware County Fairgrounds, Ohio. U.S. April 23, 20,22. REUTERS/Gaelen Morse(Reuters) – Digital World Acquisition Corp was filed Friday by current investors to resell as many as 100 million shares.
After the SPAC said that the SPAC would not receive proceeds from this offering, shares fell by 5.6% and dropped to $42.39
The filing to the U.S Securities and Exchange Commission (SEC) included the names of approximately four dozen investors, including Greywood Investments and Evergreen Capital Management.
Digital World Acquisition in October inked a deal to merge with Trump Media & Technology Group Corp (TMTG), the creator of social media platform Truth Social that was launched by Trump. Both companies stated that the merger is likely to be completed in the second half this year.
The proposal for a merger is currently under scrutiny by regulators, including the SEC (Securities and Exchange Commission) as well the Financial Industry Regulatory Authority FINRA.
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