On Friday, Digital World Acquisition (DWAC) shareholders approved the SPAC’s proposed merger with Trump Media & Technology Group (TMTG), valuing TMTG at an enterprise value of about $1.1 billion at a transaction price of $10 per share. This merger has garnered significant attention due to high-profile legal issues, intense trading activity, and Trump’s recent win in the Republican primary. Many view this stock as a bet on Trump winning the US presidency in November 2024.
Despite the challenges de-SPACs face, DWAC’s stock has shown remarkable performance, rallying 111% year-to-date and closing at $36.94 on Friday, well above the offer price pre-merger. This makes it one of the few SPAC stocks to trade substantially higher post-merger.
The potential merger with TMTG has generated significant interest among investors despite past de-SPAC mergers over the last year averaging a -59% return. To access the full article and continue following this story, sign up for a free trial of IPO Pro.
Hayden Springer had an outstanding performance at the John Deere Classic on Thursday, shooting a…
Arrhythmia is a potentially life-threatening condition that can cause serious complications such as heart failure,…
Grifols, a Catalan company, has recently made significant changes in its top management by bringing…
On July 4, a special police unit stormed the Palace of Versailles near Paris due…
A recent archaeological discovery in Paris has revealed a cave painting of a large wild…
On Wednesday, July 3, the Israeli Health Ministry reported that a total of 153 people…