Donald Trump stands to reap a windfall of $3 billion or more after Digital World Acquisition Corp. shareholders voted to merger with his social media company.
I don’t really understand this, either. Other than these new SPACs being the cutting edge of fraud or some kind of white-collar crime. Here’s some interesting info (and comparison with Reddit IPO).
SPACs were supposed to be a quick and easy way for a company like Trump Media & Technology Group to go public, but it hasn’t worked out that way.
Instead, they’ve developed a reputation as a kind of back-door IPO for companies that probably couldn’t withstand the scrutiny involved with a conventional listing.
Many of the highest-profile SPACs, including Nikola, Virgin Galactic, and BuzzFeed, are now unloved penny stocks.
I don’t really understand this, either. Other than these new SPACs being the cutting edge of fraud or some kind of white-collar crime. Here’s some interesting info (and comparison with Reddit IPO).