Truth Social and Digital World Acquisition's SPAC Deal Is Falling Apart

By Travis Hoium – Sep 27, 2022 at 5:31PM

NASDAQ: DWAC

Digital World Acquisition Corp.

A $1 billion financing package is already falling apart and Truth Social may unravel if the SPAC merger doesn't go through.

Digital World Acquisition Corp (DWAC) was one of the hottest SPACs in the world when it announced an acquisition deal with Donald Trump's Truth Social. But the deal is under pressure now that investors in a $1 billion PIPE financing deal are starting to back out. This video covers the recent news and why this SPAC may be in a downward spiral.

*Stock prices used were end of day prices of Sept. 27, 2022. The video was published on Sept. 27, 2022.

Travis Hoium has no position in any of the stocks mentioned. The Motley Fool has positions in and recommends Blackstone Inc. The Motley Fool has a disclosure policy. Travis Hoium is an affiliate of The Motley Fool and may be compensated for promoting its services. If you choose to subscribe through their link they will earn some extra money that supports their channel. Their opinions remain their own and are unaffected by The Motley Fool.