In a significant development today, Digital World Acquisition Corp. (“Digital World” or the “Company”) announced the successful approval of its proposed merger with Trump Media & Technology Group Corp. (“TMTG”), marking a pivotal moment in the trajectory of both entities. The decision came following a resounding endorsement from the Company’s stockholders during a crucial meeting.
The approval, which encompassed various aspects including the proposed merger termed as the “Business Combination,” signifies a crucial step forward in the strategic alignment of Digital World and TMTG. The merger, outlined in the Agreement and Plan of Merger, initially dated October 20, 2021, and subject to subsequent amendments, underscores a shared vision for future growth and development in the digital realm.
Upon completion of the Business Combination, TMTG is slated to emerge as the surviving corporation, operating as a wholly owned subsidiary of Digital World. This transition, expected to culminate in the renaming of the entity to “Trump Media & Technology Group Corp.,” is anticipated to prompt the commencement of trading of its common stock on the Nasdaq Stock Market LLC (“Nasdaq”) under ticker symbols “DJT” and “DJTWW.”
Formal affirmation of the vote’s outcome has been detailed in a Current Report on Form 8-K, filed by Digital World with the Securities and Exchange Commission on March 22, 2024, offering transparency and clarity regarding the decision-making process.
Expressing gratitude for the support received, Eric Swider, CEO of Digital World, emphasized the significance of the milestone, particularly noting the confidence exhibited by stockholders. Swider articulated, “With many of our headwinds behind us, we look forward to working with TMTG and our dedicated team to close this merger.” He further highlighted the personal significance of the moment, coinciding with his one-year anniversary as CEO, and reaffirmed the commitment to the strategic direction set forth.
Echoing Swider’s sentiments, TMTG CEO Devin Nunes underscored the collaborative efforts driving the merger, portraying it as a testament to the unwavering dedication of both entities and their stakeholders. Nunes emphasized the transformative potential of the merger, especially in the realm of safeguarding free expression on the internet, positioning TMTG as a beacon against the encroachment of censorship and suppression by major tech entities.
The approval of the merger marks not only a significant corporate milestone but also signals the beginning of a new chapter in the digital landscape, poised to reshape the dynamics of online discourse and engagement. As Digital World and TMTG embark on this transformative journey, the collective vision for innovation and empowerment remains steadfast, setting the stage for future endeavors and advancements in the digital world.
