DWAC merger deadline extended to March 8th. This is their last extension before the Federal Government can force them to dissolve. (www.yahoo.com)
Digital World Acquisition Corporation Confirms Extension of Deadline to Complete Initial Business Combination
Digital World Acquisition Corporation (NASDAQ:DWAC) (the "Company") extended the date by which the Company has to complete its initial business combination from December 8th, 2022 to March 8th, 2023 (the "Extension").
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I'm just running on the assumption that SPACs have to find a company to merge with, or the SPAC dissolves. The merger having a deadline that they have to follow through by suggests that too.
The SEC is investigating DWAC, with their reasoning being that Trump and DWAC may have colluded from the beginning for TMTG to be who DWAC merges with, and not DWAC organically searching for a merger. While investigating, the SEC is just refusing to let them go through with their merger.
Since they hate Trump and those who support him, it only seems logical that they're stonewalling the merger until time runs out.