Trump Media, Sec clears proposed Digital World merger
Digital World Acquisition's shares up 29% on the New York Stock Exchange - Shareholders have the floor
1' min read
1' min read
Digital World Acquisition received a long-awaited green light from the US market regulator, the US Securities and Exchange Commission, to merge with former US President Donald Trump's media company.
The stock market leap
.Shares of Digital World Acquisition jumped as much as 29%, the company's biggest intraday gain, after the SEC declared effective the registration statement for its proposed merger with Trump Media & Technology Group. Regulatory issues have hindered the merger of the with Trump's media company, which owns the social media platform Truth Social, for more than two years.
Now the members' word
.'The biggest hurdle to the merger is now overcome,' said Matthew Tuttle, managing director of Tuttle Capital Management, adding that all that is needed now is a shareholder vote. Digital World expects to announce the date of its extraordinary shareholders' meeting within two business days.
