2025 Update: Trump’s Truth Social Set to Go Public via DWAC Merger at $3 Billion Valuation
Discover the latest developments as Digital World Acquisition Corp. shareholders approve the merger with Trump Media & Technology Group, paving the way for Truth Social's public debut under the ticker 'DJT'.
Colin is an Associate Editor specializing in technology and financial news, bringing over three years of expertise in editing, fact-checking, and analyzing current financial and political events. He holds an M.A. in Journalism from The New School and a B.A. in History and Political Science from McGill University.
Essential Highlights
- Shareholders of Digital World Acquisition Corp. (DWAC) have officially approved the merger with Trump Media & Technology Group (TMTG), the parent company of former President Donald Trump's social media platform, Truth Social.
- The combined entity is expected to commence trading under the stock symbol "DJT," representing Donald J. Trump, potentially as soon as next week.
- Donald Trump will hold nearly 80 million shares in the new company, valued at over $3 billion based on recent closing prices.
On Friday, shareholders of Digital World Acquisition Corp. (DWAC) gave the green light to merge with Trump Media & Technology Group (TMTG), marking a significant milestone for Truth Social's journey to becoming a publicly traded company.
The merger, initially announced in October 2021, faced regulatory scrutiny due to allegations that the companies failed to disclose prior merger discussions before DWAC went public. Despite these challenges, the approval sets the stage for Truth Social’s public market debut.
Following the merger, TMTG is anticipated to trade under the ticker "DJT," symbolizing Donald J. Trump, with trading potentially starting next week.
Trump is poised to own close to 80 million shares in the newly merged company. At Thursday’s closing price, this stake is valued at more than $3 billion. However, these shares are subject to a six-month lock-up period, although the board may waive this restriction.
Leading up to the vote, DWAC shares rose approximately 10%, but they declined by about 8% shortly after the merger approval, reflecting market volatility amid the transition.
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