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Benzinga

Business

Melanie Schaffer

Trump-Linked Digital World Takes A Hit As Investors Grow Tired Of Merger Delays

Digital World Donald Trump Digital World Acquisition Corp Nasdaq SPAC

Digital World Acquisition Corp (NASDAQ:DWAC) gapped down 21% to start the trading session Tuesday after a report indicated shareholders rejected a one-year deadline extension that the special purpose acquisition company requested to complete its planned merger with Donald Trump's Trump Media & Technology.

The SPAC requested the extension in order to buy the time required to gain SEC approval for the deal, and if the majority of shareholders vote “no” to the request, Digital World plans to either unilaterally extend the merger deadline by six months or extend the voting deadline.

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