Digital World Acquisition Corp

Digital World Acquisition Corp. (DWAC), is an American special-purpose acquisition company, founded in 2021. In October 2021, the company announced a proposed merger agreement with Trump Media & Technology Group, the owner of Truth Social. In March 2024, the company approved a deal to merge with TMTG. Operations On September 3, 2021, DWAC commenced trading on the Nasdaq, after selling 25 million shares in its IPO.On October 20, 2021, DWAC and Trump Media & Technology Group announced that they had entered into a definitive merger agreement that would combine the two entities, allowing TMTG to become a publicly traded company. DWAC was created with the help of ARC Capital, a Shanghai-based firm specializing in listing Chinese companies on American stock markets that has been a target of U.S. Securities and Exchange Commission (SEC) investigations for misrepresenting shell corporations. Some investors were surprised...