Trump stock DWAC gains on report of efforts to raise $1B PIPE, related SPACs BENE, PHUN also rise

seekingalpha2021-12-02

Update 6:11 pm: Adds other Trump-related stocks moving in after hours. Trump-related SPAC Digital World Acquisition Corp.(NASDAQ:DWAC) rose 7% in after-hours trading on a report that it's working to ...

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2021-12-02
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The original SPAC deal between Trump Media and DWAC valued Trump Media at $875M.\nTrump Media is looking to secure a PIPE that would value DWAC close to its current share price of around $40/share, according to Reuters, which cited people familiar. Trump Media has asked investors to finalize commitments for PIPE investment by the middle of the month.\nBloomberg reported earlier this month that DWAC was said to have started scheduling meetings with investors for a  PIPE deal to support its combination with Trump Media & Technology Group.\nTrump sister SPAC Benessere Capital Acquisition (NASDAQ:BENE) the SPAC that is run by Patrick Orlando, who is also behind the Trump's media deal with DWAC, rose 6.3% in after hours trading. 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