Digital World CEO says more Trump deal details coming

Tajammul Pangarkar
Tajammul Pangarkar

Updated · Oct 22, 2021

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October 22, 2021

By Krystal Hu

(Reuters) – Digital World Acquisition Corp Chief Executive Patrick Orlando said that a regulatory filing providing more details on his deal to take former U.S. President Donald Trump’s new social media venture public will be published “soon”.

Digital World has provided few details thus far about the deal, which gave an initial valuation to Trump Media and Technology Group of $875 million, including debt.

Despite this, Digital World’s shares ended trading on Thursday up 357%, the biggest rally in the stock of a special purpose acquisition company (SPAC) following a deal announcement.

“Maybe around Thursday,” Orlando said when reached by Reuters by phone and asked when he would be releasing more financial details about the deal.

He added that a “full 8-K filing” will be filed with the U.S. Securities and Exchange Commission soon. He declined to provide more details.

(Reporting by Krystal Hu in New York; Editing by Chizu Nomiyama)

Source Link Digital World CEO says more Trump deal details coming

Tajammul Pangarkar

Tajammul Pangarkar

Tajammul Pangarkar is a CMO at Prudour Pvt Ltd. Tajammul longstanding experience in the fields of mobile technology and industry research is often reflected in his insightful body of work. His interest lies in understanding tech trends, dissecting mobile applications, and raising general awareness of technical know-how. He frequently contributes to numerous industry-specific magazines and forums. When he’s not ruminating about various happenings in the tech world, he can usually be found indulging in his next favorite interest - table tennis.