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DWAC / Digital World stock tumbles after SPAC buying Trump Media discloses another SEC subpoena

Shares of Digital World Acquisition Corp. DWAC, +0.39% tumbled 8.2% in premarket trading Monday, after the special purpose acquisition company (SPAC) that is buying the company behind Donald Trump's Truth Social said it received another subpoena from the Securities and Exchange Commission related to the acquisition. The SPAC said the subpoena seeks additional information on "communications regarding and due diligence of of potential targets other than TMTG" [Trump Media & Technology Group Corp.] and relationships between Digital World and certain advisors, shareholders, as well as certain forward-looking information about TMTG. Read More

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Digital

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Tumbles

After

Spac

Buying

Trump

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Another

Subpoena

DWAC

Posted: Jun 13 2022, 06:37

Author Name: Market Watch

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