Dwac Agreement

Please report your traffic by updating your user agent to include company-specific information. The presentation included projections that the company`s Truth Social service could have 81 million users by 2026, nearly 7 million more people than in the last U.S. presidential election. The 178.46 million shares do not include shares resulting from a conversion of preferred shares. This figure will not be announced until 10 days after trading the new share. Assuming the average share price is greater than $56, an additional 29,761,905 shares, for a total of approximately 208.22 million shares, would be outstanding. Using this total number of shares and the 28.8 million shares that DWAC`s public shareholders will receive as part of the merger, DWAC`s public shareholders will receive approximately 13.8% of the shares of the new company. TMTG`s subscriber base is expected to reach 40 million by 2026 with a projected monthly subscription fee of $9.00. It appears that this projection includes both potential domestic and international subscribers based on this projection. This may seem high as many consumers are reluctant to pay a monthly fee, but monthly fees have recently become the norm. Even Seeking Alpha has changed its business model to charge a fee for their premium program to read articles. Many contributors to the SA, including myself, were concerned that this would have a negative impact on AFRICA`s business model.

This was actually very successful for SA and payments to SA article writers. Given Donald Trump`s business approach in his business ventures, it`s no surprise that the comparison of this new media company to very successful media companies like Disney (DIS) and Facebook (FB) is used in their presentations. The $1 billion deal is just the beginning of the capital needed to grow the new business. I was encouraged by the fact that they were not initially using debt as a means of raising funds. While their presentation material has been interesting, I expect the EBITDA and cash flow projections to be included in their S-4 filing. Until I read these forecasts, I am maintaining my neutral rating for DWAC shares and warrants. . Shareholders can withdraw their shares from their brokerage accounts and apply for a physical share certificate, either by asking the broker to initiate the application through DTC or by asking their broker to send the shares electronically directly to the transfer agent through the DWAC system. In five years, Trump`s media is expected to generate nearly $3.7 billion in revenue, according to the filing. That`s more than annual sales from retailer Restoration Hardware, VR maker Winnebago Industries, and entertainment giant iHeart Media, which owns more than 800 radio stations. Digital World Acquisition Corp (DWAC) announced in a recent filing that it has received questions from the U.S. government regarding its planned merger with Trump Media & Technology Group (TMTG).

TechCrunch reported here on spaC`s proposed merger with the company associated with former US President Donald Trump. The 12.8% stake of DWAC`s public shareholders in the table above assumes an average share price of $10 after the merger. Interestingly, if the average post-merger share price trades near $10, PIPE`s preferred institutional shareholders would jointly control the new company and not Trump. At $10, preferred shareholders would control 44.5% and Trump only 38.9%. (If I had to structure this deal, I would have issued at least a few Class B shares to Trump with the voting power of 20 votes, compared to 1 vote for Class A shareholders to ensure that Trump will control the company. I seriously doubt that it will trade close to $10, but I am always very careful when structuring trades.) If a user or application submits more than 10 requests per second, other requests from the IP address may be limited for a short time. Once the request rate has fallen below the threshold for 10 minutes, the user can continue to access the content on SEC.gov. This SEC practice is designed to limit excessive automated searches to SEC.gov and is not intended or should not affect anyone browsing the site SEC.gov. The FAST program facilitates the industry`s dematerialization efforts and plays an important role in reducing the costs associated with sending certificates to agents, as well as printing and processing certificates. The FAST program does not apply to money market securities. Personally, I am relieved to know that Trump is not issuing a big bond to raise funds under their first PSPC deal. He has a reputation for using a lot of debt in his business operations.

The use of convertible preferred shares is a more prudent funding approach to raising the necessary liquidity than issuing debt. However, I expect that the debt will eventually be used to develop their business model. The DWAC process offers investors a number of benefits, including time, cost savings and reduced risk. Digital World Acquisition, often referred to by its trade symbol “DWAC,” said it was cooperating with “preliminary investigative investigations” by the Financial Industry Regulation Authority and the Securities and Exchange Commission. Given the two news, it`s no surprise that the U.S. Financial Industry Regulatory Authority (FINRA) and the U.S. Securities and Exchange Commission (SEC) are asking questions. In my previous DWAC article, I estimated that Trump could receive up to 125.78 million shares, based on DWAC`s expected buyback price of $10.20, as stated on page 23 of their S-1A deposit. Your numbers in the last submission seem to use a price of $10 instead of $10.20. The $0.20 difference translates into an additional 1.72 million shares, or about $96.3 million, paid to Trump using the current share price of $56. .

While this is usually not a concern for investors, there are several requirements for DWAC. Shares must be freely negotiable or eligible for the lifting of restrictions. .