Former President Donald Trump’s social media company has finally secured regulatory approval to merge with a special purpose acquisition vehicle after two years of struggle. It marks a victory for the GOP candidate that will place the merged entity on the stock exchange.
The U.S. Securities and Exchange Commission (SEC) approved the merger between Digital World Acquisition Corp. (DWAC) and former president’s Trump Media & Technology Group (TMTG) on Wednesday, according to a Feb. 14 filing. TMTG is the owner of the social media platform Truth Social. Following the announcement, shares of DWAC surged. At the end of Tuesday, DWAC was trading at around $40 per share. On Friday morning, shares were at $50.
