ReportWire

Tag: Digital World Acquisition Corp. Cl A

  • Trump SPAC Digital World says it expects to complete merger ‘as soon as first quarter of 2024’

    Trump SPAC Digital World says it expects to complete merger ‘as soon as first quarter of 2024’

    [ad_1]

    Shares of Digital World Acquisition Corp.
    DWAC,
    -1.68%    ,
    the blank-check company that wants to merge with former President Donald Trump’s media venture, rose after hours on Friday after the company said in a regulatory filing that it expects to complete that deal “as soon as the first quarter of 2024.” Digital World offered up those expectations after filing an amendment to its registration statement, which it said “includes a preliminary proxy statement of the company, and a prospectus in connection with the proposed business combination” with Trump Media & Technology Group, the company that runs Trump’s social-media platform Truth Social. “With this filing, we are closing in on the final steps before our merger becomes effective and goes to the shareholders for a vote,” Trump Media Chief Executive Devin Nunes said in a statement. Digital World shares were up 4.7% after the bell.

    [ad_2]

    Source link

  • Digital World Acquisition stock soars, as the SPAC taking Donald Trump’s Truth Social public settles fraud charges

    Digital World Acquisition stock soars, as the SPAC taking Donald Trump’s Truth Social public settles fraud charges

    [ad_1]

    Shares of Digital World Acquisition Corp.
    DWAC,
    -2.05%    ,
    the special purpose acquisition company (SPAC) looking to take Donald Trump’s Truth Social media company public, soared 20% in premarket trading Friday, after the SPAC reached a settlement with the Securities and Exchange Commission over fraud charges. The rally put the stock on track to open around the highest-price seen during regular-session hours since Feb. 6. The agreed upon settlement was a $18 million civil penalty fee in the event that it completes its planned  merger with the Trump Media and Technology Group (TMTG) and takes it public. The SPAC, which went public in September 2021, and entered into an agreement in October 2021 to buy TMTG. The SPAC’s stock has tumbled 59% over the past 12 months, while the S&P 500
    SPX,
    -0.68%
    has gained 13.4%.

    [ad_2]

    Source link

  • Trump social-media SPAC jumps on report Google allows Truth Social

    Trump social-media SPAC jumps on report Google allows Truth Social

    [ad_1]

    Shares of Digital World Acquisition Corp.,
    DWAC,
    -1.12%
    the special-purpose acquisition company planning to take former President Donald Trump’s media-ventures company public, jumped 10% after Axios reported that Truth Social, Trump’s social media platform, received approval from Google for distribution on its Google Play Store. Axios noted that nearly half of smartphone users in the U.S. use Google’s Android platform, and said Truth Social “had to commit to enforcing its own website policies that forbid things like inciting violence.” The approval follows a launch of a platform that has run into technical glitches, legal issues and challenges related financial matters and user engagement.

    [ad_2]

    Source link

  • Elon Musk would lose 13.5 million Twitter followers if he scraps most spam accounts; Justin Bieber would lose 27.6 million, data finds

    Elon Musk would lose 13.5 million Twitter followers if he scraps most spam accounts; Justin Bieber would lose 27.6 million, data finds

    [ad_1]

    Elon Musk would lose about 13.5 million Twitter followers, if he pushes through his plan to get rid of most spam accounts, according to data crunched by CodeClan, a Scottish digital skills academy.

    The Tesla Inc.
    TSLA,
    -3.84%
    CEO on Tuesday gave up a legal battle and agreed to pay $44 billion to take over the social-media company. Musk has said he wants less than 5% of Twitter
    TWTR,
    -2.35%
    accounts to be spam.

    But Musk’s losses pale in comparison with singer Justin Bieber, who would lose 27.6 million of his 114.2 million followers, according to the data.

    Britney Spears would lose the highest percentage of fake followers out of the top 20 with some 48% of her 55.8 million followers being classified as fakes.

    See also: Elon Musk says Twitter will eventually be part of ‘X, the everything app’

    Former President Barack Obama would lose 19.3 million of his 131.9 million followers, the data shows.

    Among other high profile names; Katy Perry has about 23.3 million fakes among her 108.9 million followers, or 21.4% of the total; Rihanna has about 26.5 million fakes, or 24.9% of her 106.5 million followers; Lady Gaga has 10.9 million fakes in her roster of 84.7 million followers, for 12.9% of the total; Kim Kardashian has about 14 million fakes, or 19.4% of her 72.4 million followers, and Ellen DeGeneres has about 24.4 million fakes, equal to 31.5% of her 77.5 million followers.

    See now: Elon Musk’s legal battle with Twitter may be over, but his war with the SEC continues

    In the world of politics, Indian Prime Minister Narendra Modi has about 17.5 million fakes in his 78.8 million followers, equal to 22.2% of the total.

    CNN Breaking News has about 7.7 million fakes, or 12.2% of its 63.1 million followers. Bill Gates has about 14.3 million fakes, or 24.2% of his 58.9 million followers. And NASA has some 14.7 million fakes, or 26.8% of its 57.1 million followers.

    Twitter shares were slightly lower premarket, while Tesla was down 1.1%.

    Shares of Digital World Acquisition Corp.
    DWAC,
    +0.03%    ,
    the special-purpose acquisition company, or SPAC, buying the company behind former President Donald Trump’s Truth Social social-media company, was slightly higher premarket after falling more than 5% Tuesday in the wake of the Musk/Twitter news.

    The SPAC has fallen 67% in the year to date, while the S&P 500
    SPX,
    -1.28%
    has fallen 20%.

    [ad_2]

    Source link