• Tue. May 28th, 2024

The Future of Digital Media: DWAC’s Merger with Trump Media & Technology Group Paves the Way for a New Power Player in the Industry

BySamantha Nguyen

Mar 25, 2024
Trump Media and Technology Group granted Nasdaq listing for multi-billion dollar wager on potential second Trump presidency

In a major development, Digital World Acquisition (DWAC) shareholders have approved the SPAC’s merger with Trump Media & Technology Group (TMTG), the company responsible for Donald Trump’s Truth Social platform. The merger values TMTG at an enterprise value of approximately $1.1 billion at a transaction price of $10.

As a result of this merger, the combined company will be traded under the ticker symbol DJT as early as this week. This move has garnered significant attention due to frenzied trading, high-profile legal cases, and Trump’s success in winning the Republican primary. It is seen as a bet on Trump potentially winning the US presidency in November 2024.

Despite a negative trend for de-SPACs, with mergers averaging a -59% return over the past year, DWAC’s stock has surged by 111% year-to-date and closed at $36.94 on Friday, well above the pre-merger offer price. The company originally went public in September 2021 with a focus on technology investments.

The approval of the merger marks an important step in the process, with the combined entity set to create a new force in the digital media landscape. Investors are keeping a close eye on developments following

By Samantha Nguyen

As a content writer at newsqwe.com, I am passionate about crafting engaging and informative articles that captivate our audience. With a background in journalism and a keen eye for detail, I strive to deliver content that is not only well-researched but also adds value to our readers' lives. From breaking news stories to in-depth features, I take pride in my ability to tell compelling stories that resonate with our diverse audience. When I'm not typing away at my keyboard, you can find me exploring new cafes, practicing yoga, or getting lost in a good book. I am thrilled to be a part of the newsqwe.com team and look forward to sharing my love for writing with all of our readers.

Leave a Reply