Trump Media & Technology Group

M

m22au

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

SEC filings for DWAC
https://www.sec.gov/edgar/browse/?CIK=1849635&owner=exclude

8-k of October 20
https://www.sec.gov/Archives/edgar/data/0001849635/000110465921128231/tm2130724d1_8k.htm

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

8-k of October 26
https://www.sec.gov/Archives/edgar/data/0001849635/000119312521308146/d230221d8k.htm

Contains link to merger agreement
https://www.sec.gov/Archives/edgar/data/0001849635/000119312521308146/d230221dex21.htm
 
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.

m22au said:
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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More...
 
"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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