Home > Boards > Other Markets > ETFs > Defiance Next Gen SPAC Derived ETF (SPAK)
Followed By 146
Posts 12066
Boards Moderated 6
Alias Born 04/16/2011

Thursday, October 21, 2021 8:40:50 PM

Re: None

Post# of 5
Communities Digital News logo
TMTG: New Trump social media company to go public via SPAC merger
Written By Terry Ponick | Oct 21, 2021
Election 2020, The Deplorables Strike Back, Jim Cramer, Trump tweets, Peggy Noonan, RINO
Trump as the Destructor. Image by the author, based on screen capture of YouTube video trailer for the original “Ghostbusters.” (© 1984, Columbia Pictures. Fair use of image for satirical purposes.)

WASHINGTON – Donald Trump announced Wednesday that he is formally launching his long-awaited new media company. Among other ventures the Trump Media & Technology Group (likely listing symbol: TMTG) will go public via a SPAC merger transaction. The new company’s plans include the launch of its own social media platform, TRUTH Social. The new TRUTH Social app is already available for pre-order on Apple’s App Store.

TMTG is currently working on an agreement to go public by merging with Digital World Acquisition Corp. (NASDAQ:DWAC), an already existing Special Purpose Acquisitions Company (SPAC). Such transactions involve a merger between the two entities, with the SPAC generally adopting the new company’s name and symbol. The new company and surviving entity – in this case TMTG – effectively “goes public.” This avoids the time, cost, expense and SEC vetting procedures involved in a standard IPO.

Fighting the socialist Narrative
The new company’s mission tracks closely with what the former president has hinted at for months. He has consistently promised to create a rival to the Big Tech and Big Media monopolies that have teamed together for years to censor and exclude writers, scholars, politicians, personalities and voices – including Trump – from expressing views that stray from the now dominant socialist Narrative.

“We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced,” Trump said in a formal statement quoted in an Associated Press story. “This is unacceptable.”


AP: “TMTG has not set its sights low.”
“In addition to the Truth Social app, which is expected to soft-launch next month with a nationwide rollout early next year, the company says it is planning a video-on-demand service dubbed TMTG+ that will feature entertainment programming, news and podcasts.

“One slide in a TMTG presentation on its website includes a graphic of TMTG’s potential competitors, which range from Facebook and Twitter to Netflix and Disney+ to CNN. The same slide suggests that over the long term TMTG will also become a power in cloud computing and payments and suggests it will go head-to-head with Amazon, Microsoft, Google and Stripe.”

More on DWAC: The numbers
The AP states that DWAC is based in Miami, but brokerage firms list its formal contact location as San Diego. AP does provide additional financial information.

“[DWA’s] Sept. 8 IPO raised $287.5 million, according to a filing with the Securities and Exchange Commission.

“[Digital World Acquisition Corp] said it has raised roughly $293 million in cash, which it will use to grow TMTG’s ventures. Among the company’s biggest shareholders are several institutional investors, including Lighthouse Investment Partners, D. E. Shaw & Co., and Radcliffe Capital Management, according to an SEC filing.

“The deal has an initial enterprise value, a measure that takes into account a company’s total debts and assets, of $875 million, according to the release.”

Wednesday trading action in DWAC and related shares will be volatile
Trading on the NASDAQ, DWAC shares were trading at ~$14.44 per share Wednesday morning at 10 a.m. ET, up some 14% from Wednesday’s close. Associated warrants (DWACW) have jumped 684% (from $0.51 to $4.00 per warrant), and associated units (DWACU) are up 59% from Wednesday and currently trade at $16.20 per unit.

In general, warrants function like long-term options entitling the holder to acquire corporate shares at a specific price. Regarding DWAC’s units, we can define a unit as a share of stock plus an attached warrant. But in either case, if the owner does not exercise the warrant by a certain date, it expires worthless, just like an option.

Final note
Traders and investors should note that at this point, investing in this evolving entity involves a high level of risk. Given today’s news, trading in all these shares could involve highly volatility, due to political and business implications.




Tags: DWAC, SPAC merger, Terry Ponick, TMTG, Trump media

Terry Ponick
Biographical Note: Dateline Award-winning music and theater critic for The Connection Newspapers and the Reston-Fairfax Times, Terry was the music critic for the Washington Times print edition (1994-2010) and online Communities (2010-2014). Since 2014, he has been the Senior Business and Entertainment Editor for Communities Digital News (CDN). A former stockbroker and a writer and editor with many interests, he served as editor under contract from the White House Office of Science and Technology Policy (OSTP) and continues to write on science and business topics. He is a graduate of Georgetown University (BA, MA) and the University of South Carolina where he was awarded a Ph.D. in English and American Literature and co-founded one of the earliest Writing Labs in the country. Twitter: @terryp17
Follow Us

Search
Enter a keyword...
Search
Most Popular
1
Davos Group proposes global Vaccine Passports and the Great Reset

2
TMTG: New Trump social media company to go public via SPAC merger

3
Hal Roach and Kamala Harris, et al. Our political gang of little rascals

4
Here is why the trial of Kyle Rittenhouse matters to every American

5
German Docs reveals information in Covid-19 vaccinated blood samples

Al Goodwin Cartoons
Southwest, Flights Canceled, Covid, Mandates
An Al Goodwyn Cartoon: We (used to) love our employees – “Southwest Airlines”
Al Goodwyn, Joe Biden, Creators Syndicate, 2024
An Al Goodwyn Cartoon: Election 2024 has Biden back in the basement
Al Goodwyn, Cartoon, Taliban
An Al Goodwyn Cartoon: Joe Biden’s ‘kinder, gentler’ Taliban
CDC says, unsettled science, masks onKaufman, Covid, Masks, CDC, Big Tech
Mask mandates are all about gaining power by instilling fear in Americans
CDC says, unsettled science, masks onKaufman, Covid, Masks, CDC, Big Tech
Big Tech and the MSM: Furthering the side effects of COVID confusion
Communities Digital News logo
Follow Us
Main
Politics
World
Life
Sports
Travel
Business & Money
Entertain Us
Science
About Us
Contact
Privacy Policy
Cookie Policy
Media / Advertising
Who We Are / Masthead
Write for CommDigiNews
© Communities Digital News.
Recent SPAK News

HNRC TO SPIN OFF NON-ENERGY ASSETS TO SHAREHOLDERS HNRC Jul 6, 2022 9:50 AM

Integrated Ventures Expands Its Mining Operations By Signing 5YR + 5MW Hosting Agreement With Compute North, LLC INTV Jul 6, 2022 9:00 AM

Maison Luxe Continues to Execute Its Growth Plan by Launching Luxury Sneaker E-Commerce Website: Kicks on Demand MASN Jul 6, 2022 8:39 AM

Rogue Station Companies/Everdime, Inc. Acquires Show Homes Business and Intellectual Property RGST Jul 6, 2022 8:30 AM

PSYC and Digital Acorn Ltd. Aim to Bring a First-of-its-Kind Psychedelic Hospitality-Focused Platform to Market PSYC Jul 6, 2022 8:30 AM

Unique opportunity to invest in Fast-Growing Revolutionary Marketing Software Solution for Local Businesses Jul 6, 2022 8:00 AM

Metatron Announces Deal with Health and Lifestyle Company Good Karma Global MRNJ Jul 6, 2022 6:30 AM

Kona Gold Beverage, Inc Post Record Quarterly Revenue KGKG Jul 5, 2022 9:00 AM

UAV Corp (UMAV) To build the largest lighter than air drone Hanger in the State of Florida UMAV Jul 5, 2022 8:00 AM

Pacific Booker Minerals Inc. Announces Annuals Posted and Project Update PBMLF Jul 1, 2022 9:30 AM

Maison Luxe Reports Best Ever Annual Revenues of Approximately $ 17.6 mil. for 2022 as Compared to Approximately $ 5.2 mil. for 2021, an Increase of Over 300% and Poised for Rapid Expansion in 2023 MASN Jun 30, 2022 9:58 AM

Global Fiber Technologies Secures Second Round of Inventory Financing GFTX Jun 30, 2022 9:41 AM

Sugarmade Announces Fully Executed LOI Toward Minority Stake Acquisition of Turnkey Cannabis Cultivation Property SGMD Jun 30, 2022 8:30 AM

HPIL(HPIL) Updates Shareholders HPIL Jun 30, 2022 8:30 AM

Emerging Markets Report: Cheaper. Simpler. More efficient. Ready to scale. SPYR Jun 29, 2022 11:41 AM

Volume:
Day Range:
Bid:
Ask:
Last Trade Time:
Total Trades:
  • 1D
  • 1M
  • 2M
  • 3M
  • 6M
  • 1Y
  • 2Y
  • 3Y
  • 5Y