Digital World Acquisition Corp.
DWACW
NASDAQ Global Market23.15
USD
+4.78
- -
CIK
0001849635
ISIN
US25400Q1132
CUSIP
25400Q113
Return %
Stock
S&P500
1Y
637.26
26.53
3Y
5,283.72
76.60
5Y
5,283.72
80.11
Capital Structure
FRC
•
in mil. unless spec.Working Capital
FRC
•
in mil. unless spec.Growth Rates
FRC
•
in mil. unless spec.Quarterly Revenue
FRC
•
in mil. unless spec.Quarterly Earnings Per Share
FRC
•
in mil. unless spec.Quarterly Dividends Per Share
FRC
•
in mil. unless spec.- CEO
- Eric S. Swider
- Sector
- Financial Services
- Industry
- Shell Companies
- Address
- 78 SW 7th Street Miami FL United States of America 33130
- IPO Date
- Sep 30, 2021
- CIK
- 0001849635
- Website
- dwacspac.com
- Similar Companies
- Business
- Digital World Acquisition Corp. (DWAC), founded in 2021 and headquartered in New York, operates as a special-purpose acquisition company (SPAC) listed on Nasdaq with the ticker DWAC (warrants under DWACW), focused on effecting mergers, capital stock exchanges, asset acquisitions, stock purchases, reorganizations, or similar business combinations primarily with operating companies in technology, fintech, media, SaaS, and digital services sectors in the Americas. As a blank check company, it does not engage in ongoing commercial operations but holds cash raised from its September 2021 initial public offering of 25 million units at $10 each, totaling approximately $250 million before expenses, intended to fund a de-SPAC transaction creating long-term shareholder value through innovative, high-growth targets. Its core activities center on identifying and combining with leading tech-driven businesses exhibiting disruptive models; no specific proprietary products or services exist beyond the SPAC structure itself. In a landmark development, DWAC completed its merger with Trump Media & Technology Group Corp. (TMTG) in March 2024 following shareholder approval on March 22, 2024, which dissolved DWAC as the SPAC and took TMTG public under the DJT ticker, integrating Truth Social and related digital media assets previously targeted in the October 2021 merger agreement amended multiple times through 2023. Leading up to the close, DWAC navigated regulatory hurdles including a $18 million SEC settlement in July 2023 for disclosure issues tied to pre-IPO merger discussions, returned $533 million in uncommitted investor funds in October 2023 after $467 million in PIPE withdrawals, secured shareholder extensions through September 2023 and into 2024, added a $50 million convertible notes PIPE in early 2024 amid financing needs, underwent CEO Patrick Orlando's termination in March 2023, and faced DOJ and SEC probes into pre-merger trading resolved by arrests in June 2023. Post-merger, former DWAC entities effectively transitioned into TMTG's public operations spanning social media platforms, streaming, and content services primarily targeting U.S. retail and institutional investors.