Digital World Acquisition Corp. on Friday again amended its filing with the Securities and Exchange Commission regarding its planned merger with Trump Media and Technology Group, former President Donald Trump’s social-media company. In the new filing, the special-purpose acquisition corporation
DWAC,
-8.86%,
or SPAC, disclosed new lawsuits that seek to block the merger, as well as changes to its bylaws that specify that any complaints brought against it be directed to the U.S. District Court for the Southern District of Florida.
And on Thursday, the board extended the date by which the company has to complete the merger to June 8 from March 8. The extension is the third of four three-month extensions permitted. The filing disclosed a lawsuit filed on Thursday by former DWAC chairman and chief executive Patrick Orlando, that seeks to block the deal unless he is awarded a larger number of shares than DWAC is currently proposing. The news was first reported by Reuters. Orlando’s ARC investment vehicle said it should receive 1.78 class A shares for each class B share owned. DWAC said the ratio was 1.34. The difference between the two is equal to more than 2.5 million shares, DWAC said in a regulatory filing. Read also: DWAC updates SEC filings to reflect new risk factors in plan to buy Trump Media & Technology Group The filing also updated investors on the latest moves from Trump Media’s co-founders, Andy Litinsky and Wes Moss, whose inv …
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DWAC,
-8.86%,
or SPAC, disclosed new lawsuits that seek to block the merger, as well as changes to its bylaws that specify that any complaints brought against it be directed to the U.S. District Court for the Southern District of Florida.
And on Thursday, the board extended the date by which the company has to complete the merger to June 8 from March 8. The extension is the third of four three-month extensions permitted. The filing disclosed a lawsuit filed on Thursday by former DWAC chairman and chief executive Patrick Orlando, that seeks to block the deal unless he is awarded a larger number of shares than DWAC is currently proposing. The news was first reported by Reuters. Orlando’s ARC investment vehicle said it should receive 1.78 class A shares for each class B share owned. DWAC said the ratio was 1.34. The difference between the two is equal to more than 2.5 million shares, DWAC said in a regulatory filing. Read also: DWAC updates SEC filings to reflect new risk factors in plan to buy Trump Media & Technology Group The filing also updated investors on the latest moves from Trump Media’s co-founders, Andy Litinsky and Wes Moss, whose inv …nnDiscussion:nn” ai_name=”RocketNews AI: ” start_sentence=”Can I tell you more about this article?” text_input_placeholder=”Type ‘Yes'”]