The special purpose acquisition company Digital World Acquisition Corp which plans to take former US President Donald Trump's media company Trump Media & Technology Group public has been given another year, until September 8, 2024, to complete the merger deal. The merger has faced delays due to investigations by the Securities and Exchange Commission and Department of Justice into potential Securities Act violations. If completed, the merger would provide Trump Media & Technology Group access to over $1 billion in cash from DWAC institutional investors like hedge funds. Trump controls around 90% of the company. DWAC's stock price closed up slightly today but remains lower than its peak last March.
