Trump Media's merger with DWAC gets regulatory nod. Trump could get a stake worth $4 billion.
CBSN
The funding partner for Trump Media & Technology Group said it has received regulatory approval from securities regulators that will allow it to proceed with a long-delayed merger. The combination could provide former President Donald Trump with a stake worth almost $4 billion.
Digital World Acquisition Corp. (DWAC), a so-called special-purpose acquisition company, said Thursday in a statement that the Securities and Exchange Commission had signed off on its proposed merger with Trump Media. DWAC said it plans to announce within two days a date for shareholders to vote on the deal.
The SEC said it doesn't comment on individual issuers. Shares of DWAC jumped $6.63, or 15.2%, to $50.18 in early afternoon trading.
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