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☆ Digital World Acquisition Corp shares jump after Google Play Store approves Trump's Truth Social
▼ + stars: | 2022-10-13 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

Shares of Digital World Acquisition Corp ., the shell company set to take Trump Media and Technology Group public, surged after former President Donald Trump's Truth Social social media platform was allowed on the Google Play Store Wednesday. Android users could previously access the platform through their web browser or through "side-loading" the application through the Truth Social website. Truth Social agreed to enforce content moderation and to remove and block users who publish posts that incite violence, according to Google. The former president had over 80 million followers on Twitter, but he has only around 4 million on Truth Social. Investors have cited these anemic numbers among their reasons for pulling funding from the DWAC-Trump Media merger.

☆ Stocks making the biggest moves premarket: Delta, Walgreens, Applied Materials and others
▼ + stars: | 2022-10-13 | by ( Peter Schacknow | ) www.cnbc.com time to read: +2 min

Walgreens (WBA) – Walgreens rallied 6.8% in the premarket after the drugstore operator reported better-than-expected quarterly profit and revenue. Applied Materials (AMAT) – Applied Materials lowered its current-quarter revenue outlook, with the chip manufacturing equipment maker saying it would be negatively impacted by new U.S. regulations restricting exports to China. Applied Materials lost 2% in premarket action. Digital World Acquisition (DWAC) – Digital World Acquisition surged 11.2% in the premarket after Google approved Truth Social – the social media platform backed by former President Donald Trump – for inclusion in its app store. Dish Network (DISH) – Dish gained 1% in premarket action after blank-check firm CONX Corp. said it was in talks to buy Dish's retail wireless unit Boost Mobile.

☆ Trump SPAC stock jumps after Google adds Truth Social to Play Store
▼ + stars: | 2022-10-12 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

The Truth social network logo is seen displayed behind a woman holding a smartphone in this picture illustration taken February 21, 2022. Shares of Digital World Acquisition Corp ., the company aiming to take former President Donald Trump's media company public, jumped during after-hours trading after Google added the Truth Social app to its Play Store. Google reinstated Parler, a platform similar to Truth Social, to the Play Store in September after the app was substantially modified to comply with Google's policies. DWAC's private investors were set to provide $1 billion to Trump Media upon the merger's completion. Meanwhile, a whistleblower from within Trump Media, William Wilkerson, has provided the SEC with internal documents.

☆ Trump-tied SPAC delays vote after falling short on shareholder support
▼ + stars: | 2022-10-10 | by ( Echo Wang | ) www.reuters.com time to read: +2 min

At least 65% of the shareholders of Digital World Acquisition Corp (DWAC.O) needed to agree to the extension. The special purpose acquisition company (SPAC) opted to push back the deadline to try to find more votes. Digital World last month said it had received termination notices from PIPE investors who were pulling out about $139 million of the total financing commitment. Digital World has not yet received approval from the U.S. Securities and Exchange Commission (SEC), which is reviewing its disclosures on the deal. Digital World is set to liquidate on Dec. 8, after managing to extend its life by three months in September.

☆ Digital World Acquisition Corp prepares merger-delay vote as Trump Media exec warns company will fail
▼ + stars: | 2022-10-10 | by ( Jack Stebbins | ) www.cnbc.com time to read: +4 min

The former US President announced his intention to create a new social media platform after he was banned from Facebook and Twitter last year. The company is also dealing with the fallout from a Trump Media executive's whistleblower complaint to federal regulators. A senior vice president at Trump Media, William Wilkerson, filed a whistleblower complaint alleging securities violations in August. Trump Media recently announced that the company was exploring legal action against the SEC for delaying the deal. "If they don't come with the financing I'll have it private," Trump said to supporters in an early-October rally in Michigan.

☆ Premarket stocks: Markets are starting to act super strange
▼ + stars: | 2022-10-06 | by ( Nicole Goodkind | ) edition.cnn.com time to read: +6 min

A weakening labor market puts downward pressure on wages and inflation. The labor market is still tight with about 1.7 job openings for every unemployed worker in the US. New private employment data on Wednesday by payroll services firm ADP suggested that the labor market isn’t losing any steam. The rise in oil gave a lift to energy stocks, helping to boost the overall market, reports Paul R. La Monica. Plus: US Department of Labor reports weekly jobless claims at 8:30 a.m.

☆ Trump SPAC shares slide after Elon Musk revives deal to buy Twitter
▼ + stars: | 2022-10-04 | by ( Jack Stebbins | ) www.cnbc.com time to read: 1 min

Shares of Digital World Acquisition Corp ., the special-purpose acquisition company seeking to take Trump Media and Technology Group public, slid Tuesday after Elon Musk reversed course and proposed going through with his deal to buy Twitter . Shares of DWAC fell more than 5% Tuesday to $17.10. The stock's 2022 peak was about $97 in March. Trump Media and Technology Group owns Truth Social, the platform founded by former President Donald Trump after he was banned from Twitter following the Jan. 6, 2021 Capitol insurrection.

☆ Digital World CEO urges Donald Trump to push shareholders to vote on merger delay
▼ + stars: | 2022-09-30 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

Patrick Orlando, the CEO of the shell company set to take Trump Media and Technology Group public, on Friday urged Donald Trump and Trump Media CEO Devin Nunes to promote an upcoming vote to extend the merger deadline for the two companies. "@realDonaldTrump @DevinNunes let's get the vote awareness up," the Digital World Acquisition Corp . chief wrote in a Truth Social post that attached information about the shareholder vote. DWAC stockholders will vote on Oct. 10 to approve an extension to the merger deadline. These are far from the only issues facing DWAC and Trump Media. Trump Media has said it was exploring legal proceedings against the SEC, saying the regulator has delayed the merger.

☆ Trump-linked SPAC changes address to UPS store as investments pulled
▼ + stars: | 2022-09-26 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

The social media app will be developed by Trump Media and Technology Group (TMTG). Digital World Acquisition Corp., the blank-check company looking to take Trump Media and Technology Group public, has changed its listed address to a UPS store in Miami. The change from a Miami office building to a UPS address came with DWAC's regulatory filing on Friday disclosing its financing losses. The contractual obligation for those investors to contribute to former President Donald Trump's media company after the deal had expired last Tuesday, allowing them to pull their funding. One of the former private investors told CNBC that it pulled financing from DWAC because of the many legal obstacles facing the company.

☆ Trump-linked Digital World Acquisition Corp shares are now around $16 after hitting $97 earlier this year
▼ + stars: | 2022-09-23 | by ( Jack Stebbins | ) www.cnbc.com time to read: +4 min

DWAC, which is a special purpose acquisition company, or SPAC, has been set to be the vessel to take Trump Media and Technology Group public. Now, its share price sits around $16 as markets slide, the appetite for SPACs dries up and Trump faces mounting legal peril. DWAC secured $1 billion in financing from private investors in public equity, also known as PIPE, which would fund Trump Media after the merger. By converting and selling these shares, PIPE investors also have the power to significantly dilute the holdings of other investors including former president Trump. Trump Media, DWAC and the PIPE investors didn't immediately return a request for comment.

☆ Some investors backing out of SPAC merging with Trump's media firm
▼ + stars: | 2022-09-23 | by ( ) www.reuters.com time to read: +2 min

REUTERS/Dado Ruvic/Illustration/File PhotoSept 23 (Reuters) - Some investors are backing out of Digital World Acquisition Corp's (DWAC.O) plan to acquire former U.S. President Donald Trump's social media firm Truth Social, the blank-check firm said on Friday. Digital World said it had received termination notices from private investment in public equity (PIPE) investors ending nearly $139 million in investments out of the $1 billion commitment it had previously announced. Register now for FREE unlimited access to Reuters.com RegisterDigital World did not disclose the investors that pulled out. Sources told Reuters Sabby Management, which had committed $100 million to the PIPE, is one of the investors who have terminated. Many are waiting for DWAC to propose more preferred terms to PIPE investors, sources added.

☆ Digital World Acquisition extends 6-day decline to 30% after Trump's Truth Social threatens a lawsuit against the SEC over delayed SPAC deal
▼ + stars: | 2022-09-21 | by ( Matthew Fox | ) www.businessinsider.com time to read: +3 min

Digital World Acquisition fell 7% on Wednesday, extending its six-day decline to more than 30%. The SPAC's merger target Truth Social threatened to sue the SEC, alleging political bias delayed its proposed merger with Digital World. But Digital World has been unable to attract the 65% of shareholders needed to approve the business combination. Since Digital World first announced its deal with Truth Social last year, the SPAC has plunged 90% from its record high of $175 per share. But Truth Social believes the SEC is to blame for the delayed deal with the SPAC, according to a Wednesday regulatory filing.

Digital World's shares rallied as much as 1,650% that month, making it the most valuable SPAC of all time. 'HURTS REALLY, REALLY, BADLY'The deal's woes have rattled Trump's supporters who bought into Digital World because of him. When it still fell short, Digital World delayed the vote again, first until later that day and then to Oct. 10. It is unclear how many investors will do so and whether Digital World will seek new investors to replace them. They got about 40% of Digital World shareholders to vote in favor of the extension, sources told Reuters at the time.

☆ Trump-linked SPAC faces new pressure from investors as merger hangs in the balance
▼ + stars: | 2022-09-20 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

The social media app will be developed by Trump Media and Technology Group (TMTG). If it falls apart, it would mean a lot less money for Trump Media, even if it did end up going public through a merger with DWAC. The negotiation is an attempt to shift risk to DWAC and Trump Media, which owns Truth Social. Representatives for DWAC and Trump Media didn't immediately respond to a request for comment. Trump founded Trump Media and Technology Group and its platform Truth Social after he was banned from Twitter following the Jan. 6, 2021, Capitol riot.

☆ Trump SPAC fails to pay proxy firm despite tough hunt for votes, Financial Times reports
▼ + stars: | 2022-09-17 | by ( ) www.reuters.com time to read: +1 min

Register now for FREE unlimited access to Reuters.com RegisterThe Truth social network logo is seen on a smartphone in front of a display of former U.S. President Donald Trump in this picture illustration taken February 21, 2022. REUTERS/Dado Ruvic/Illustration/File PhotoSept 17 (Reuters) - Executives behind a blank-cheque company Digital World Acquisition Corp (DWAC.O) that plans to take Donald Trump's media business public have failed to pay their proxy solicitors, The Financial Times reported on Saturday. https://on.ft.com/3BpVjalDigital World Acquisition Corp, set up by Patrick Orlando, has not paid Saratoga Proxy Consulting for its work helping to rally shareholders, report said, citing people familiar with the matter. Digital World and Saratoga Proxy Consulting did not respond to emailed requests for comment outside of business hours. Register now for FREE unlimited access to Reuters.com RegisterReporting by Jaiveer Singh Shekhawat in Bengaluru, Editing by Louise HeavensOur Standards: The Thomson Reuters Trust Principles.

☆ Trump-linked SPAC lacks votes to delay merger, adjourns shareholder meeting until October
▼ + stars: | 2022-09-08 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

This illustration photo shows Donald Trump's new social media app Truth Social, glitching on a smartphone in Los Angeles, February 21, 2022. Digital World Acquisition Corp ., the SPAC aiming to take former President Donald Trump's media company public, adjourned its shareholder meeting until Oct. 10 to allow voting to continue on delaying the merger. DWAC had already twice adjourned the meeting earlier in the day after previously adjourning it Tuesday. Trump Media owns Truth Social, which was founded by the former president after he was banned from Twitter following the Jan. 6, 2021, Capitol riot. Digital World had previously warned that the vote's failure could result in the SPAC's liquidation.

☆ Trump SPAC deal at risk as merger deadline approaches
▼ + stars: | 2022-09-07 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

Digital World Acquisition Corp. has a Thursday deadline to merge with Trump Media and Technology Group, the owner of Truth Social. The companies have failed to complete the merger, and federal investigations surrounding the deal and Trump have piled up. The failure of the DWAC merger could burn retail investors who tried their hand in SPAC investing because of the president. The company is facing federal probes into possible securities violations by DWAC and Trump Media and Technology Group. Representatives from DWAC and Trump Media did not immediately respond to requests for comment Wednesday.

☆ Trump-linked SPAC to resume meeting Thursday as it seeks votes to delay merger with ex-president's firm
▼ + stars: | 2022-09-06 | by ( Jack Stebbins | ) www.cnbc.com time to read: +3 min

The special purpose acquisition company had a Thursday deadline to take Trump's media company and its Truth Social platform public. Digital World Acquisition Corp . adjourned its shareholder meeting after two minutes on Tuesday and said it will continue counting votes on whether to delay a merger with former President Donald Trump's media company. The former US President announced his intention to create a new social media platform after he was banned from Facebook and Twitter last year. Trump Media denied reports of financial strife that surfaced at the end of August. Orlando has been on a media campaign and posting on Truth Social to drum up enough votes for the extension.

☆ Digital World Acquisition Corp urges shareholders to delay merger with Trump Media
▼ + stars: | 2022-09-03 | by ( Jack Stebbins | ) www.cnbc.com time to read: +4 min

Trump Media and Technology Group and the SPAC have faced increasing scrutiny in recent months. DWAC and Trump Media face a Thursday deadline to complete the merger, and the SPAC is eagerly seeking an extension. Trump Media and Technology Group and Truth Social were founded after Trump was banned from Twitter following the Jan. 6, 2021, Capitol riot. Trump Media announced in October 2021 that it would merge with DWAC to take the company public. Trump Media, headed by Republican former U.S. Rep. Devin Nunes, has said it also plans on launching TMTG News and TMTG+ video streaming services.

☆ Trump's Truth Social barred from Google Play store over content moderation concerns
▼ + stars: | 2022-08-30 | by ( Jack Stebbins | ) www.cnbc.com time to read: +4 min

Truth Social, the would-be Twitter competitor created by Trump Media and Technology Group, remains unavailable on the Google Play store. Truth Social acknowledged Google's concerns and said it would work on addressing these issues, according to Axios. Well, look, that's up to the Google Play store. "It is our belief that all Americans should have access to Truth Social no matter what devices they use. We look forward to Google approving Truth Social at their earliest convenience."

☆ Trump-linked SPAC's stock falls as shareholders weigh delaying merger with ex-president's media firm
▼ + stars: | 2022-08-29 | by ( Jack Stebbins | ) www.cnbc.com time to read: +2 min

The current deadline to take Trump Media public is Sept. 8. Trump Media and Technology Group controls Truth Social, which is reportedly facing severe financial difficulties. DWAC warned last week that damage to the former president's dwindling popularity could hurt the deal. The Securities and Exchange Commission as well as the Justice Department have been investigating the proposed merger between DWAC and Trump Media. Federal prosecutors have subpoenaed Trump Media as it probes possible undisclosed conversations between the SPAC and Trump Media employees that may have violated securities regulations.

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