Digital World Shareholders Approve up to 12 More Months to Seal Trump Media Deal | SPAC Feed

investors in the blank-check company that plans to merge with former U.S. President Donald Trump’s social media firm voted today to give the SPAC an extension of up to one year to complete the deal.

Digital World needed to get 65% of its roughly 400,000 shareholders to vote in favor of the extension.

The deal was announced in October 2021. The last deadline extension was approved in Nvoember 2022.

Time was running out for Digital World ahead of a Sept. 8 deadline when the corporate charter would require the company to liquidate and return to current shareholders the $300 million it raised in its initial public offering in 2021 if the extension was not approved.

Digital World’s stock traded at $16.77 on Tuesday, up 1.6% on the day but down from its peak of around $97 a share in March, 2022. Read more.

Source: Digital World Shareholders Approve up to 12 More Months to Seal Trump Media Deal

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• Source: https://spacfeed.com/digital-world-shareholders-approve-up-to-12-more-months-to-seal-trump-media-deal