Digital World Acquisition Corp—the publicly-traded company that is planning to merge with Donald Trump’s struggling media business—announced Monday that it had been smacked with a federal grand jury subpoena. DWAC is special purpose acquisition company (SPAC, for short), which is an empty shell of a corporation that goes public on a stock exchange with no purpose or business plan and then merges with an existing company.
Similar Stories to Trump-linked Company Hit With Grand Jury Subpoena on Bing News
Russ Choma, Mother Jones
Mon, 06/27/2022 - 11:51am
Topics: digital world acquisition corp—the donald trump s september twitter securities exchange commission trump media technology company december financial industry regulatory authority finra spac s southern district new york us department finra brian garelick these registration statement dwac s business combination march trump trump trump s dwac sec spac dwac s finra monday s department justice monday rocket capital the hit grand jury subpoena public merge investigation filing board subpoenas potential fact mere information plan publicly federal process initial purpose stock existed companies month founders merger firm specific authorities materially share delay earlier investigations
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