Trump media and tech company closer to going public
President Trump posted in Truth Social Wednesday morning, Sept 6, announcing that shareholders in his Digital World Acquisition Corporation (DWAC) have approved the Extension Amendment paving the way for a merger with Trump Media and Technology Group (TMTG), the parent company of Truth Social.
This announcement comes almost exactly a year to the day that TMTG issued a statement accusing the SEC of being "political" (a nice way of saying corrupt) in delaying review of the proposed merger then. We see this as just more flushing out of deepstate cockroaches, we have no doubt this was anticipated by the Trump Team.
Replies to this morning's post show great enthusiasm for the coming merger which would take Truth Social public and allow it to grow into a far more capable social media application.
We watch and wait to see how this will fit into the Plan to Save the World along with Elon Musk's X that Elon is making into the "Everything App."
Digital World Acquisition Corp. Announces Voting Results of Special Meeting to Approve the Extension Amendment
Miami, FL, September 6, 2023 — Digital World Acquisition Corp. (Nasdaq: DWAC) ("Digital World" or the "Company") announced today that the Company's stockholders voted in favor of the proposal to amend its amended and restated certificate of incorporation ("Extension Amendment") to extend the period of time available to complete a business combination, in three-month increments, until September 8, 2024 or such earlier date as determined by the Company's Board of Directors, at the special meeting of its stockholders that took place September 5, 2023 at 10:00 am ET. The Extension Amendment was approved by a vote of approximately 72.33% of the outstanding shares of common stock on July 10, 2023, the record date. A Current Report on Form 8-K disclosing the full voting results will be filed with the Securities and Exchange Commission.
"We are immensely grateful to our stockholders and our working group for their continued trust and support. This vote underscores their confidence in the potential merger with TMTG and the path we've set for the future. With many of our headwinds behind us we look forward to working with TMTG and our dedicated team to complete this transaction as quickly as possible." Eric Swider, CEO of Digital World.
"We are pleased by yesterday's result," said TMTG CEO Devin Nunes. "With this vote of confidence from DWAC shareholders, we will proceed as quickly as possible to complete our merger, which we expect will open up tremendous new opportunities to grow and expand TMTG and the Truth Social platform."
About Digital World Acquisition Corp.
Digital World Acquisition Corp. (Nasdaq:DWAC) is a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. To learn more, visit www.dwacspac.com.
Trump Media & Technology Group Corp. ("TMTG") is a social media and technology company. The mission of TMTG is to end Big Tech's assault on free speech by opening up the Internet and giving people their voices back. TMTG operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations. To learn more, visit www.tmtgcorp.com.
Trump Media & Technology Group Issues Statement on Proposed Merger with Digital World Acquisition Corp.
SARASOTA, Fla., Sept. 08, 2022 (GLOBE NEWSWIRE) -- Today, Trump Media & Technology Group ("TMTG") released the following statement regarding its proposed merger with Digital World Acquisition Corp. ("DWAC"):
"The SEC has needlessly delayed its review of our proposed merger, causing real and unnecessary financial harm to DWAC investors, roughly 90 percent of whom are small, retail shareholders whom the SEC is chartered to protect. Despite its standard practice to provide comments within 30 days, the SEC has failed to give meaningful feedback on DWAC's registration statement for a stunning 115 days and counting. In the interests of simple fairness, the SEC needs to set aside any improper political considerations and bring its review to a swift conclusion." (emphasis mine)
Truth Social chief suggests SEC trying to kill merger effort over politics
"He's worked overtime to try to kill our company," Nunes asserted.
By Ben Whedon, Just the News | April 17 2023
Trump Media & Technology Group CEO Devin Nunes on Monday shared suspicions that the Securities and Exchange Commission (SEC) is working to kill a prospective merger that would allow the company to get listed on the stock exchange and raise key capital to expand the platform.
Nunes made the remarks on the "Just the News, No Noise" television show, one day before SEC Chairman Gary Gensler is slated to speak before a congressional committee.
The former California lawmaker derided Gensler, asserting that his time in office had been marred by myriad disasters, saying "[w]ell, overall, you've had some of the biggest disasters that have occurred on his watch, whether it's the cryptocurrency guy, the FTX guy, so many things that are that have blown up on his watch."
Trump's Truth Social soars to best month ever, as lawmakers question SEC behavior in merger review
"The SEC just has to get answers to people," powerful House committee chairman says.
By John Solomon, Just the News | May 1 2023
As former President Donald Trump's social media platform soared to its best month ever, a growing number of Republicans in Congress are expressing concern that the Biden Securities and Exchange Commission may be slow-walking a compliance review to thwart a merger that could inject hundreds of millions of dollars into Truth Social from investors.
The SEC has been investigating for more than a year the application from Digital World Acquisition Corp. (DWAC), a special purpose acquisition corporation (SPAC), and its plans to merge with Trump Media and Technology Group, the parent of Truth Social. The long delay has frozen investors who put money into the SPAC hoping to help Trump's platform or to own a piece of the combined company.
Last week, some GOP lawmakers questioned the agency's chairman, former Hillary Clinton campaign chief financial officer Gary Gensler, about why it was taking so long.
Truth Social's CEO is Devin Nunes who says the platform is to be launched "for sure by the end of the first quarter." We have the video and the transcript.
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