Digital World Corp (DWAC) has released an update to notify the public and investors about an entry into a material definitive agreement.
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Digital World Acquisition Corp. is set to issue $50 million in convertible promissory notes to support its business combination with Trump Media & Technology Group Corp. These notes, bearing 8% interest, can be converted into Digital World Class A common stock and warrants, under certain conditions post-business combination. Additionally, the company has agreed to issue 3,050,000 warrants, at $11.50 per share, to certain institutional investors, aligned with its initial public offering terms. These financial instruments were offered under exemptions from standard securities registration requirements.
For further insights into DWAC stock, check out TipRanks’ Stock Analysis page.
For a comprehensive understanding of the announcement, you can read the full document here.
