Trump-Tied SPAC Soars as SEC Settlement Clears Hurdle for Deal

The blank-check firm trying to merge with Donald Trump’s nascent social-media business soared on Friday after settling fraud charges with the Securities and Exchange Commission, clearing a key hurdle for the hotly-anticipated deal.

Digital World Acquisition Corp., the SPAC merging with Trump Media, jumped 93% in its biggest intraday advance since October 2021 after settling allegations it filed documents that were “materially false.” The settlement with the SEC comes weeks after Digital World said it had reached a preliminary agreement which would result in it paying an $18 million fine if the deal is completed.

Read more: ...