Some Traders Redeemed DWAC Shares at 75% Loss Ahead of SPAC Vote

Some investors in the blank-check firm taking Donald Trump’s nascent media company public voluntarily took a 75% loss by pulling out of the deal.

Nearly 5,000 Digital World Acquisition Corp. shares were redeemed for $10.87 each ahead of a vote to approve the special-purpose acquisition company’s deal to take Trump Media & Technology Group public, according to a Friday filing. DWAC, as the SPAC is known, hasn’t traded below the redemption value since the tie-up with Trump Media was announced in October 2021.

The stock closed at $42.90 on Wednesday, the redemption deadline, meaning one or more investors ...