Trump’s Truth Social SPAC Buys More Time; DWAC Stock Rises

The two-year saga involving a proposed deal to take Donald Trump’s Truth Social platform public just got even longer.

Shareholders voted to give the special-purpose acquisition company trying to take the former president’s media firm public another year to complete the merger. Digital World Acquisition Corp. previously faced a deadline of Friday to finish the deal.

Digital World shares rose about 3% to around $17 following the news and remain roughly 70% above where the SPAC began trading. The stock is at a fraction of its intraday peak of $175 from right after the deal was first announced nearly two years ago.

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