Trump Linked Spac Digital World Acquisition Corp Dwac Bleeds As Elon Musk Shows Twitter Some Much Needed Love
Digital World Acquisition Corp. (NASDAQ:DWAC), a Special Purpose Acquisition Company (SPAC) that is slated to take the Trump Media & Technology Group (TMTG) public via a reverse merger, appears to have lost its sheen of attractiveness as back-to-back negative developments continue to hammer the stock’s erstwhile stellar gains. For the uninitiated, the merger deal will furnish TMTG with $293 million in cash proceeds. Moreover, Digital World Acquisition has also raised nearly $1 billion in PIPE investments, thereby elevating TMTG’s proposed valuation from $875 million to around $4 billion....