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Trump’s Truth Social Buys More Time As Stock Rises

The two-year saga involving a proposed deal to take Donald Trump’s Truth Social platform public just got even longer.

Truth’s social Spac rises on the news

Factset chart on DWAC

Shareholders voted to give the special-purpose acquisition company trying to take the former president’s media firm public another year to complete the merger. Digital World Acquisition Corp. previously faced a deadline of Friday to finish the deal.

Digital World shares rose about 3% to around $17 following the news and remain roughly 70% above where the SPAC began trading.

The stock is at a fraction of its intraday peak of $175 from right after the deal was first announced nearly two years ago.


Image: DWAC