DWAC Bounces Back
Digital World Acquisition Corp. (DWAC) is the SPAC aiming to take Donald Trump’s social media platform. While it’s been riddled with problems and controversy since its inception, it just cleared one important hurdle. 😮
The Securities and Exchange Commission (SEC) announced yesterday after the bell that it settled fraud charges with the company. DWAC will pay an $18 million civil penalty fee if it executes a final merger to take Trump Media and Technology Group public. If it chooses not to complete the merger before its January 1st, 2025 deadline and instead returns investors’ money, the penalty will not apply. 📝