Private companies are flooding to special-purpose acquisition companies, or SPACs, to bypass the traditional IPO process and gain a public listing. WSJ explains why some critics say investing in these so-called blank-check companies isn’t worth the risk. Illustration: Zoë Soriano/WSJthat is trying to take public former President Donald Trump’s social-media platform pushed back the deadline for its shareholders to vote on giving the company more time to close its deal.
The SPAC, Digital World Acquisition Corp. , on Monday pushed the deadline to Nov. 3 on the vote to extend the deadline to merge with Trump Media & Technology Group. The entity had needed approval of shareholders representing 65% of shares by Monday for a one-year extension. Patrick Orlando, Digital World Acquisition chief executive, said the latest delay is meant “to accommodate the sheer number of voters that have not yet been able to cast their vote.
Be AFRAID….. VERY AFRAID…. Most Trump things turn to Shit….