Nasdaq threatens to delist Trump SPAC from stock market

📆 25/05/2023 23:25:00
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The controversial merger has also been stalled by legal scrutiny. The Justice Department is investigating the acquisition, in addition to the SEC. In late June, Digital World disclosed its board me…

Digital World Acquisition Corp

In a press release Wednesday, Digital World said it “received an expected letter” from the stock market because hasn’t filed a quarterly report for the period ending on March 31. The letter doesn’t mean the company will be delisted, but its stock could disappear from the Nasdaq exchange if it doesn’t get its act together soon.

However, the company said there’s “no assurance” that Nasdaq will accept its plan or that the company “will be able to regain compliance within any extension period granted by Nasdaq.”DWAC announced plans in October 2021 to acquire Trump Media & Technology Group, owner of the Truth Social app,The former president is the chairman and a major shareholder of TMTG.

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