Trump Media & Technology Group took a major step toward becoming a publicly traded company on Wednesday.
Trump Media and Digital World Acquisition Corp. announced that the U.S. Securities and Exchange Commission declared effective the Registration Statement on Form S-4 for their proposed business combination.
The big picture: Digital World, a blank-check company that has agreed to take Truth Social public, announced Wednesday that it will hold a stockholders meeting to have investors vote on approving the merger.
- The meeting will take place within two business days, Digital World said in a statement.
- Digital World’s stock (DWAC) closed at $43.55 on Wednesday, up $2.23 on the day and over double what it was valued at over one month ago.
What they’re saying: Trump Media CEO Devin Nunes said in a statement that Truth Social was created to serve as a safe harbor for free expression and to give people their voices back.
- “Moving forward, we aim to accelerate our work to build a free speech highway outside the stifling stranglehold of Big Tech,” Nunes said. “I’d like to thank everyone who has believed in our mission and helped bring us to this moment: DWAC and its CEO Eric Swider, DWAC shareholders, the TMTG Board of Directors, the entire TMTG staff, and the whole community of Truth Social users.”
