Digital World Acquisition Corp., the SPAC buying Trump Media, jumps again

Dow Jones2021-10-22

MW Digital World Acquisition Corp., the SPAC buying Trump Media, jumps again

Digital World Acquisition Corp. (DWAC), the special purpose acquisition company merging with the newly formed Trump Media & Technology Group, was flirting with $70 per share in early premarket trade, which would represent a rise of more than 50%. The SPAC jumped 357% to $45.40 on Thursday, following the announcement. At $70, DWAC would have a market capitalization of roughly $2 billion. The Digital World transaction values Trump Media at an initial $875 million, for a company which plans to roll out a beta version of a social-media platform next month, and subsequently produce "non-woke" news shows, entertainment and podcasts.

-Steve Goldstein

$(END)$ Dow Jones Newswires

October 22, 2021 05:08 ET (09:08 GMT)

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DZJ1976
2021-10-22
DZJ1976
Exactly what the world needs right now [得意]

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