In a major development in the world of technology and media, shareholders of Digital World Acquisition Corporation have approved a merger with Trump Media & Technology Group, the company behind the Truth Social app platform. This merger could potentially result in former President Donald Trump receiving a windfall of $3 billion or more.
The newly combined entity, known as Trump Media, is expected to go public under the stock symbol DJT, using Trump’s initials. Following the shareholder vote, DWAC’s share price experienced a significant drop of up to 12%, but managed to recover by noon ET.
It is important to note that any fluctuations in DWAC’s share price could directly impact the value of Trump’s shares in the merged company. Currently, 11% of DWAC’s tradable shares are being sold short, indicating that there are bets on the share price dropping.
Despite several lawsuits being filed over the terms of the merger, the voting schedule remained unaffected. However, these legal challenges could potentially impact the allocation of shares to key individuals involved in the deal.
As this groundbreaking merger moves forward, all eyes are on the future of Trump Media and the potential impact it could have on the digital world. Stay tuned for more updates on Mazmessenger.
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