Digital World Acquisition Corp. DWAC shares are trading higher on Tuesday after the company scheduled a shareholder meeting to extend the merger deadline by a year.
The Details:
Digital World Acquisition Corp. needs the approval of its shareholders to extend the deadline for its merger with Trump Media and Technology Group (TMTG). TMTG is the parent company of Donald Trump's social media platform, Truth Social.
Under Digital World Acquisition's articles of incorporation, the company would face dissolution if the merger with Trump Media and Technology group is not completed by Sept. 8.
Shares of DWAC are moving higher on heavy trading volume. According to Benzinga Pro, more than 1.65 million shares have already been traded in the session, compared to the stock's 100-day average of just over 955 thousand shares.
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DWAC Price Action: According to Benzinga Pro, Digital World Acquisition shares are up 1.74% at $16.80 at the time of publication.
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