Truth Social SPAC Reportedly Fails To Get Shareholder Support To Prolong Acquisition

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Digital World Acquisition Corp’s stock has slumped more than 18% in the last month amid reports of financial troubles at the former president’s social media company.

A request to extend the deadline for the merger between former President Donald Trump's Truth Social platform and a special purpose acquisition company could not gather shareholder support, ReutersThis illustration photo shows Donald Trump's new social media app Truth Social, glitching on aDigital World Acquisition Corp —the Nasdaq-listed blank check company which has agreed to acquire Truth Social’s parent company Trump Media & Technology Group and take it public—failed to garner...

If DWAC fails to deal with the issue before Thursday’s September 8 deadline, it will be forced to liquidate its shares and return the money it raised in its initial public offering.

 

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Lovely and wonderful. It may be 4:50 AM and I may have been sleepless since 2 AM, but you have made me happy. Aaaaaaah, so good. Will be forced to liquidate. Will be forced to liquidate. It's like a magic spell. Will be forced to liquidate

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