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Trump Media's Blockbuster SPAC Deal Set to Enrich Allies and Foes.

Authors :
Lipschultz, Bailey
Maloney, Tom
Source :
Bloomberg.com; 3/21/2024, p1-1, 1p
Publication Year :
2024

Abstract

Donald Trump's media startup, Trump Media & Technology Group, is set to go public through a deal with Digital World Acquisition Corp (DWAC), a special purpose acquisition company (SPAC). If approved, the deal will make several insiders, including management, sponsors, and former associates, wealthy on paper. DWAC's stock has seen a significant gain this year, leaving room for further equity-based rewards. Trump himself stands to reap billions of dollars from the deal. However, there are challenges, including a lock-up period and the company's struggle to generate profit. [Extracted from the article]

Details

Language :
English
Database :
Complementary Index
Journal :
Bloomberg.com
Publication Type :
Periodical
Accession number :
176204022