The U.S. Securities and Exchange Commission will allow Donald Trump's media and technology company to merge with Digital World Acquisition Corp.
Former President Donald Trump's media company, which operates his Truth Social site, has received approval for the merger with a purpose acquisition company called Digital World Acquisition Corp., that would make the website a publicly traded entity and yield millions of dollars. DWAC said the U.S.
Trump, who would own between 58% and 69% of the company, and other investors could earn tens of millions more shares per a provision, known as an "earnout," tied to the stock’s performance, a filing said, The Washington Post reported. In a Wednesday statement, former Republican Congressman Devin Nunes said Digital World's aim is "to accelerate our work to build a free speech highway outside the stifling stranglehold of Big Tech," according to the Post.
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