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DWAC climbs 10% after shareholders approve merger with Trump's media group

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A potential windfall from selling shares could help pay for Trump’s legal bills and his damage judgments of over $500 million in three separate cases.

Shares of Digital World Acquisition Corp. rose about 10% after the approval of a merger between the shell company and the social media group owned by former President Donald Trump.

Under the deal's current terms, Trump will not be allowed to sell shares in the company for at least six months.DWAC shareholders voted Friday to approve the combination between the special purpose acquisition company, or SPAC, and Trump Media & Technology Group, the owner of the social media platform

 

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