By Tomi Kilgore
DWAC has formally modified its identify to Trump Media & Know-how Group, and the brand new inventory ticker begins buying and selling Tuesday
Shares of Digital World Acquisition Corp. powered larger Monday, after the corporate’s merger with former President Donald Trump’s social-media firm formally closed.
The identify of the special-purpose acquisition firm has modified to Trump Media & Know-how Group Corp., and the general public firm’s inventory will start buying and selling underneath the ticker image DJT on Tuesday. Principally, the precise inventory would not change, simply the ticker.
Additionally learn: Donald Trump to personal almost 80 million ‘DJT’ shares.
DWAC’s inventory (DWAC) soared 23.7% in noon buying and selling forward of the ticker change. That places it on monitor for the largest one-day achieve because it rocketed 88.4% on Jan. 22 within the wake of Ron DeSantis dropping out of the presidential main race and throwing his assist behind Trump.
With the merger’s closing, which got here 29 months after the settlement was first introduced, TMTG Chief Government Devin Nunes, and the prevailing administration crew, will proceed to guide the corporate.
“As a public firm, we’ll passionately pursue our imaginative and prescient to construct a motion to reclaim the web from huge tech censors,” Nunes mentioned.
DWAC had mentioned in a launch out late Friday {that a} “overwhelming majority” of the votes forged on the particular assembly of shareholders have been in favor of the acquisition of Trump Media & Know-how Group Corp., which is the mum or dad of Fact Social.
Learn: DWAC’s inventory takes a dive after merger with Trump Media authorised by shareholders.
In a submitting with the U.S. Securities and Change Fee after Friday’s shut, the SPAC confirmed that 26,633,233 shares have been voted in favor of the merger, whereas 66,010 shares voted towards and 51,890 abstained.
-Tomi Kilgore
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03-25-24 1308ET
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