ក្រុមហ៊ុន Digital World Acquisition Corp. (DWAC) stock fell Friday as shareholders of the special purpose acquisition company, aiming to take former President Donald Trump’s tech and social-media platform public, are set to meet Monday to determine whether there is support to extend the deadline to complete the merger.
X
DWAC’s original deadline to complete its merger with Trump Media and Technology Group, the parent of the conservative social-media platform Truth Social, had been last month. However, a Securities & Exchange Commission investigation of the deal has delayed proceedings. On Sept. 8, DWAC adjourned the shareholder vote on whether to approve a deadline extension, setting Monday as the new date.
Without shareholders completing a vote last month, the SPAC’s sponsor, ARC Global Investments, contributed about $2.9 million to extend the merger deadline until Dec. 8, according to federal filings. DWAC management is providing shareholders an opportunity to extend the deadline until Sept. 8, 2023.
DWAC stock dropped 1.5% to 17.32 during Friday ការជួញដូរទីផ្សារភាគហ៊ុន. Shares are down 90% from their Oct. 22 high of 175, when news of the Trump merger deal first broke.
Vote Or DWAC Liquidation
Aug. 25 SEC filings showed DWAC asked ម្ចាស់ភាគហ៊ុនដើម្បីអនុម័តការបន្ថែម for it to complete its business merger.
DWAC had set the vote for Sept. 6 and warned investors that if the delay to September 2023 was not granted, the company could potentially cease operations and liquidate shares.
ក្រុមហ៊ុនបានសរសេរនៅក្នុងឯកសារសហព័ន្ធនៅថ្ងៃទី 25 ខែសីហារបស់ខ្លួនថា "បើគ្មានការពន្យារទេ ក្រុមប្រឹក្សាភិបាលជឿជាក់ថាមានហានិភ័យយ៉ាងសំខាន់ដែលយើងប្រហែលជាមិនអាចទេ ទោះបីជាមានការខិតខំប្រឹងប្រែងអស់ពីសមត្ថភាពរបស់យើងក៏ដោយ ដើម្បីអាចបញ្ចប់ការរួមបញ្ចូលអាជីវកម្មនៅ ឬមុនកាលបរិច្ឆេទបញ្ចប់" ។
Filings also show the SPAC hemorrhaging cash. In an SEC document last month, DWAC revealed that between Sept. 19 and Sept. 23 it had received termination notices from private investment in public equity (PIPE) investors representing around $139 million.
នេះកើតឡើងបន្ទាប់ពី DWAC បានរាយការណ៍នៅក្នុងរបាយការណ៍ប្រចាំត្រីមាសរបស់ខ្លួនកាលពីថ្ងៃទី 23 ខែសីហាថា ខ្លួនបានខាតបង់ចំនួន 6.2 លានដុល្លារនៅក្នុងឆមាសទីមួយនៃឆ្នាំនេះ។
SEC ស៊ើបអង្កេត DWAC
DWAC announced in October 2021 it intended to merge with Trump Media and Technology Group, with the aim of taking Trump’s company public. However, the SEC began to investigate DWAC’s business dealings in December.
After the merger announcement, DWAC stock rose but observers were skeptical about the speed at which the deal came together. Shares of Digital World began trading on Sept. 30, 2021. Then the stock briefly spiked more than 1,600% in the two days following the Trump media merger announcement, on Oct. 20, 2021.
Shares retreated from those highs, but traded as much as 914% above the September, 2021, launch price as recently as March.
In late June, a DWAC SEC filing revealed a federal grand jury in the Southern District of New York had បានកោះហៅសមាជិកក្រុមប្រឹក្សាភិបាលរបស់ក្រុមហ៊ុន ស្វែងរកព័ត៌មានលម្អិតបន្ថែមអំពីកិច្ចព្រមព្រៀងបញ្ចូលគ្នា។ នៅពេលនោះ DWAC បានព្រមាននាយកដ្ឋានយុត្តិធម៌ និងការស៊ើបអង្កេតរបស់ SEC ប្រថុយនឹងការយឺតយ៉ាវ ឬបញ្ចប់ការរួមបញ្ចូលគ្នាទាំងមូល។
The New York Times reported Trump and DWAC CEO Patrick Orlando had discussed a deal months before the SPAC went public.
DWAC Stock And Trump’s Social Media
DWAC stock dropped 5% Tuesday after news broke that Elon Musk had shifted course and that his $44 billion Twitter (TWTR) acquisition was once again on. This raises the possibility that Trump could return to Twitter, potentially before November’s midterm elections.
In addition, on Thursday evening, Musk tweeted that ក្រុមហ៊ុន tesla (TLSA) was starting production on the Tesla Semi tractor trailer trucks. Deliveries to PepsiCo (PEP) were set to begin on Dec. 1. Musk said the electric semi trucks will have a 500-mile range per charge.
Jobs Report Still Too Strong For The Fed
Truth Social launched after Twitter shut down Trump’s Twitter account following the Jan. 6 riot at the U.S. Capitol last year. The Trump-backed social media app launched in February, with អ្នកប្រើប្រាស់មួយចំនួនដែលលើកឡើងពីបញ្ហា និងការលំបាកក្នុងការបង្កើតគណនី។
A return to Twitter could redirect a large portion of Truth Social’s audience to the more mainstream channel. Also, in an Aug. 25 federal filing, DWAC said a potential risk to the success of its business merger is Trump’s popularity, or lack thereof.
“If President Trump becomes less popular or there are further controversies that damage his credibility or the desire of people to use a platform associated with him,” that could affect the deal, DWAC wrote in the filing.
Last month, DWAC then filed a copy of a Sept. 3 Truth Social post from Trump. The former president said the social media platform is “doing really well” but that the SEC is attempting to prevent the SPAC from completing the deal.
“Who knows? In any event, I don’t need financing, ‘I’m really rich!’ Private company anyone???” Trump said.
សូមតាមដាន Kit Norton នៅលើ Twitter @KitNorton សម្រាប់ការគ្របដណ្តប់បន្ថែមទៀត។
អ្នកអាចចូលចិត្ដបាន
តើស៊ីអិនអិម SLIM គឺជាអ្វី? ប្រសិនបើអ្នកចង់ស្វែងរកភាគហ៊ុនដែលឈ្នះសូមស្គាល់វាកាន់តែច្បាស់
មូលនិធិកំពូលទិញចូលជាអ្នកដឹកនាំឧស្សាហកម្មលេខ 1 នៅជិតការបំបែកជាមួយនឹងកំណើន 364%
ធ្វើពាណិជ្ជកម្មជាមួយអ្នកជំនាញនៅលើ IBD Live
Source: https://www.investors.com/news/dwac-stock-falls-ahead-of-trump-deadline-vote-on-monday/?src=A00220&yptr=yahoo