Digital World Acquisition Corp. And Trump Media & Technology Group Corp. Reaffirm Commitment To Merger

 

Digital World Acquisition Corp. And Trump Media & Technology Group Corp. Reaffirm Commitment To Merger

MIAMI, FL / ACCESSWIRE / August 9, 2023 / Special purpose acquisition company Digital World Acquisition Corp. (Nasdaq:DWAC) ("DWAC") and Trump Media & Technology Group Corp. ("TMTG"), which operates the Truth Social platform, are pleased to announce they have agreed on an amendment to their previously announced Agreement and Plan of Merger (the "Merger Agreement"). In conjunction with DWAC's engagement of a new independent auditor and receipt of an extension to file its amended annual report on Form 10-K and quarterly report on Form 10-Q for the quarter ended March 31, 2023, the Merger Agreement is expected to enable DWAC and TMTG to move forward expeditiously toward their shared objective of completing a business combination in the coming months. 

Once consummated, the merger will capitalize TMTG-which has rapidly developed Truth Social from an idea into a robust and dynamic online platform-and is expected to position TMTG for strategic growth and expansion while continuing its mission to open up the Internet.

Among other changes to governance and financial terms, the second amendment (the "Second Amendment") extends the Merger Agreement's "Outside Date" to December 31, 2023, and provides for mutual supplemental due diligence ahead of DWAC's anticipated filing of an updated registration statement on Form S-4 with the Securities and Exchange Commission (the "SEC"). For further information on the Second Amendment, please see DWAC's current report on Form 8-K filed with the SEC on August 9, 2023.