Shares of DWAC fell more than 15% Tuesday morning after the company reportedly failed to get enough shareholder votes to extend the deadline for its merger with Trump Media.
with Trump Media and Technology Group.
The special purpose acquisition company had a Sept. 8 deadline to take former President Trump's media company and its Truth Social platform public. The SPAC has previously warned that a failure to extend the merger deadline could force DWAC to liquidate. Reuters reported that DWAC failed to secure enough shareholder votes for the one-year extension to complete the deal, citing people familiar with the matter.
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