Trump Media and Technology Group granted Nasdaq listing for multi-billion dollar wager on potential second Trump presidency

The merger between Digital World Acquisition (DWAC) and Trump Media & Technology Group (TMTG) has garnered significant attention, with the approval of the SPAC’s shareholders marking an important step in the process. This merger values TMTG at an enterprise value of approximately $1.1 billion at a transaction price of $10, and is seen as a bet on Donald Trump potentially winning the US presidency in November 2024.

Despite a negative trend for de-SPACs, with mergers averaging a -59% return over the past year, DWAC’s stock has surged by 111% year-to-date and closed at $36.94 on Friday, well above the pre-merger offer price. The company originally went public in September 2021 with a focus on technology investments.

Investors are keeping a close eye on the developments following the merger as they assess the potential impact on the market and the broader political landscape. Trump’s involvement in the venture adds a layer of complexity and interest to the deal, making it a highly anticipated event in the world of SPACs and digital media.

By Samantha Johnson

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