Former President Donald Trump's media company, which operates his Truth Social site, has received approval for the merger with a purpose acquisition company called Digital World Acquisition Corp., that would make the website a publicly traded entity and yield millions of dollars.
DWAC said the U.S. Securities & Exchange Commission signed off on its registration statement and that the shareholder vote date would be announced within two days to vote on the merger, according to an SEC filing on Wednesday.
"We are immensely proud of the strides we’ve taken towards advancing the Business Combination," Eric Swider, CEO of Digital World, said in a statement included in the filing. "This achievement marks a significant milestone for us. Our sincere thanks go to our shareholders for their unwavering support. We are excited to soon share the news of the Business Combination’s approval process with them."
