• Mon. May 20th, 2024

DWAC’s SPAC Merger with Trump Media & Technology Group: A bet on a Trump 2024 Presidential Win and the Future of De-SPACs.

BySamantha Nguyen

Mar 25, 2024
Trump Media and Technology Group granted Nasdaq listing for multi-billion dollar wager on potential second Trump presidency

Digital World Acquisition (DWAC) shareholders have approved the SPAC’s merger with Trump Media & Technology Group, a company responsible for Donald Trump’s Truth Social platform. The merger values TMTG at an enterprise value of approximately $1.1 billion at a transaction price of $10. The combined company will be traded under the ticker symbol DJT as early as this week.

This merger has garnered significant attention due to frenzied trading, high-profile legal cases, and Trump’s success in winning the Republican primary. It is seen as a bet on Trump potentially winning the US presidency in November 2024.

Amid a negative trend for de-SPACs, with mergers averaging a -59% return over the past year, DWAC’s stock has surged by 111% year-to-date and closed at $36.94 on Friday, well above the pre-merger offer price. The company originally went public in September 2021 with a focus on technology investments.

Investors are keeping a close eye on the developments following the merger as they assess the potential impact on the market and the broader political landscape. Trump’s involvement in the venture adds a layer of complexity and interest to the deal, making it a highly anticipated event in the world of SPACs and digital media.

The approval of this merger marks an important step in creating a new force in

By Samantha Nguyen

As a content writer at newsskio.com, I weave words to craft compelling narratives that captivate readers and bring stories to life. With a keen eye for detail and a passion for storytelling, I strive to create engaging and informative content that resonates with our audience. Whether I'm delving into the latest news trends or exploring unique angles on various topics, my goal is to deliver quality content that informs, entertains, and inspires. Join me on this journey as we uncover the news stories that matter most.

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