Trump SPAC Digital World Acquisition (NASDAQ:DWAC), the blank-check firm seeking to merge with Trump’s media company, rose 7.5% in after hours trading, after the outside date the deal was extended until Dec. 31.
The amended merger agreement is expected to enable DWAC and Trump Media & Technology Group to move forward “expeditiously” toward completing a business combination in the coming months, according to a statement on Wednesday.
Digital World (DWAC) will create a new class of common stock to be issued to TMTG’s Company Principal that will have the same voting, dividend, liquidation, and other rights as one share of DWAC Class A common stock, according to an 8-K filing on Wednesday.
“TMTG remains committed to the merger with DWAC, which we believe will help maximize TMTG’s potential,” TMTG CEO Devin Nunes said in the statement.
The company also said it engaged Adeptus Partners as its independent public accounting firm. The hiring comes after DWAC announced last Tuesday that its auditor, Marcum, had resigned.
Digital World (DWAC) has an Aug. 17 shareholder vote to allow the SPAC to have another year to completes its deal with TMTG.