Digital World Acquisition Corp. (NASDAQ: DWAC, DWACU), a blank check company, will be merging with a newly formed company created by former President Donald J. Trump. That company, Trump Media & Technology Group (“TMTG”), was formed by Trump to compete with the radical left media. The two companies combined to become a publicly listed company with a potential valuation of up to $1.7 billion. According to a statement from the company, DWACU’s objective is to create a “rival to the liberal media consortium” designed to compete with big-tech companies located in Silicon Valley that use their power to “silence opposing voices in America.” TMTG plans to unveil a new social media platform called TRUTH Social to accomplish this objective; social media platform is slated for launch by early 2022. TMTG also anticipates offering a subscription video on demand service featuring “non-woke” entertainment programming, news, and podcasts. “I created Truth Social and TMTG to stand up to the tyranny of big tech,” said former President Donald J. Trump in the article. “We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American president has been silenced. This is unacceptable. I am excited to send out my first Truth on Truth Social very soon. TMTG was founded with a mission to give a voice to all. I’m excited to soon begin sharing my thoughts on Truth Social.”
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About Digital World Acquisition Corp.
Digital World Acquisition Corp. is a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses.
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