by Will Feuer
Digital World Acquisition (DWAC), the special-purpose acquisition company set to merge with Trump Media & Technology Group, has announced the postponement of its shareholder vote to extend the merger deadline.
Originally scheduled for Aug. 17, the vote has now been rescheduled to Sept. 5, according to a securities filing by DWAC. The blank-check firm has been striving for nearly two years to finalize its merger with Trump Media, the parent company of Truth Social.
"Our SPAC is currently facing a crucial turning point," stated DWAC Chief Executive Eric Swider.
In the event that the extension of the merger deadline is not approved, the SPAC will have until Sept. 8 to complete the merger.
Trump Media's Chief Executive, Devin Nunes, a former congressional representative from California, expressed the company's continued commitment to merging with DWAC.
"We are eagerly anticipating the successful completion of this deal in collaboration with DWAC, propelling our company into the next phase of growth," Nunes commented.
After-hours trading saw DWAC shares drop 3% to $16.52.
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