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Trump-linked SPAC adjourns meeting for three hours to continue vote on merger delay

This illustration photo shows Donald Trump’s new social media app Truth Social, glitching on a smartphone in Los Angeles, February 21, 2022.
Chris Delmas | AFP | Getty Images

Digital World Acquisition Corp., the SPAC aiming to take former President Donald Trump’s media company public, adjourned its shareholder meeting by another three hours to allow voting to continue on delaying the merger.

The deadline for the merger is Thursday, and the vote could decide the fate of a $1.3 billion cash infusion from DWAC’s public offering and Trump Media and Technology Group’s potential listing on the stock market.

Digital World previously warned that the vote’s failure could result in the SPAC’s liquidation. More recently, DWAC CEO Patrick Orlando said he intends to initiate a “built-in” extension with a $2.8 million injection from his company and DWAC sponsor ARC Global Investments II.

This is breaking news. Check back for updates.

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