Source:
The Hill
| March 22, 2024 | Julia Shapero
Shareholders of Digital World Acquisition Corp. (DWAC) approved a merger Friday with Truth Social, a media startup owned by former President Trump, teeing up its stock market debut and a potential $3.5 billion windfall for Trump.
The long-delayed merger between the blank check company and Trump Media & Technology Group (TMTG) received regulatory approval from the Securities and Exchange Commission (SEC) last month.
Trump stands to make about $3.5 billion from the deal, given the nearly 79 million shares he would control in the newly merged company.
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