Shares of blank check company Digital World Acquisition (NASDAQ:DWAC) are on the rise today after it agreed to amend its previous merger agreement with Trump Media & Technology Group (TMTG).
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The amendment now extends the merger’s ‘outside date’ to December 31, 2023, and upon closing, the merger is expected to capitalize TMTG, the name behind the Truth Social platform.
DWAC has also roped in a new independent auditor and received an extension to file its amended annual report and quarterly report for the period ending March 31, 2023. Importantly, with this amendment, TMTG and DWAC can move forward on mutual due diligence and execute a business combination in the coming months.
Today’s price gains come on top of a 9.5% rise in DWAC shares over the past month. At the same time, short interest in the stock is now hovering upward of 8%.
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