Trump Media & Technology Group

It's up again :-)

DWAC_on_2021-10-27 We.png
 
PR on the TMTG web page
https://tmtgcorp.com/press-releases/announcement-10-20-2021

The PR starts with the text
"Trump Media & Technology Group and Digital World Acquisition Corp. (NASDAQ: DWAC) have entered into a definitive merger agreement, providing for a business combination that will result in Trump Media & Technology Group becoming a publicly listed company, subject to regulatory and stockholder approval."

It doesn't look like an expected closing date has been announced.

This thread is about Trump Media and Technology Group

Link to Elitetrader politics thread
https://www.elitetrader.com/et/forums/politics.27/

Digital World Acquisition Corp

https://finance.yahoo.com/quotes/dwac/view/v1
https://seekingalpha.com/symbol/DWAC

Link to press release from 8-k that announces the merger
https://www.sec.gov/Archives/edgar/data/0001849635/000110465921128231/tm2130724d1_ex99-1.htm

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"The per-share conversion price of the fully committed convertible preferred stock PIPE transaction represents a 20% discount to DWAC’s volume-weighted average closing price (“VWAP”) for the five trading days prior to and including December 1, 2021, subject to downward adjustment. "

Month Day Close Volume Close x Volume

Dec 1 44.35 6,514,100 288,900,335
Nov 30 41.39 1,570,100 64,986,439
Nov 29 42.74 1,393,400 59,553,916
Nov 26 43.10 2,211,200 95,302,720
Nov 24 43.15 4,235,900 182,779,085

TOTALS: 15,924,700 691,522,495

Closing VWAP = $43.42
 
Conversion price of convertible preferred = 0.80 * $43.42 = $34.74, subject to downward adjustment.

"If the VWAP of the combined entity for the 10 trading days after the closing of the business combination (“Closing VWAP”) is at or above $56, no downward adjustment will occur. If the Closing VWAP is below $56, then the conversion price shall be adjusted to the greater of a 40% discount to the Closing VWAP and the floor price of $10.00."

$56.00 * 0.60 = $33.60
 
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