The SPAC Digital World Acquisition Corp.(DWAC) published a statement on August 30th confirming that the company increased the “reach of the media to social media platforms.”
“Digital World Acquisition Corp. (…) announced today that it will expand its media reach by posting public announcements related to its upcoming special meeting of shareholders (…) and other company developments on TruthSocial, Trump’s platform Media & Technology Group Corp. (“TMTG”), and Reddit, to facilitate their shareholders’ access to news about Digital World,” the statement read.
Likewise, the company urges its shareholders to vote in favor of the extension amendment before a special meeting is held on September 6th.
SPACs are an effective mechanism to help a company go public. They are normally entities without a specific business plan or purpose, and their business model is based on seeking mergers or acquisitions of other companies, in order to later go public.
Meanwhile, on Truth Social, a social media company managed by Trump Media, users are already celebrating the DWAC announcement.
“TRUTH SOCIAL IS NOW OFFICIALLY USED TO POST PUBLIC ANNOUNCEMENTS RELATED TO DWAC VOTE!! Come on TRUTHSOCIAL!!”
The announcement comes after several months of negotiation and disputes with the United States Securities and Exchange Commission and marks a major victory for Trump Media and DWAC.
