Truth Social, Donald Trump’s social media platform, announced late Wednesday it had clear its final regulatory hurdle for merging with a cash-flush acquisition company whose value has soared in recent weeks as the former president won the first three major presidential primary contests.
Digital World Acquisition Corp. (DWAC) announced that the Securities and Exchange Commission had “declared effective” the registration statement for its proposed merger with Trump Media and Technology Group, the parent company for Truth Social.
The SEC’s action ends nearly a two-year-long saga of delays that some conservatives feared were driven by political influences at the Biden administration. It also gives tens of thousands of everyday investors who made a bet on the merger a chance to own a piece of the Trump-owned firm heading into the 2024 election
DWAC said it plans to announce by week’s end the date of a special meeting where stockholders can vote to approve the merger.
