DWAC delays shareholder vote to extend Trump Media merger deadline

Digital World Acquisition
the special-purpose acquisition company that has agreed to merge with Trump Media & Technology Group, pushed back its shareholder vote to extend its merger deadline.

The vote, which was scheduled for Aug. 17, has been delayed to Sept. 5, the blank-check firm said in a securities filing. The SPAC has been trying for almost two years to close its merger with Trump Media, the parent company of Truth Social.

“Our SPAC is at a defining crossroads,” DWAC Chief Executive Eric Swider said.

If the extension of the merger deadline isn’t approved, the SPAC has until Sept. 8 to consummate the merger.

Trump Media Chief Executive Devin Nunes, a former congressional representative from California, said the company is still committed to its merger with DWAC.

“We look forward to getting this deal done as soon as possible, in partnership with DWAC, and moving forward to the next stage of our company’s growth,” he said.

Shares of DWAC fell 3% to $16.52 in after-hours trading.

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