Trump-Tied SPAC Jumps 45% After Settling SEC Fraud Charges (3)

(Updates with intraday trading.)

Digital World Acquisition Corp., the SPAC working to bring Donald Trump’s media venture public, jumps 45% in its biggest rally since November on Friday after the SEC said it settled fraud charges against the SPAC. Warrants tied to the SPAC spiked as much as 90% to $6.50.

• Settlement centers on DWAC making making material misrepresentations in forms filed with the SEC as part of DWAC’s initial public offering and proposed merger with Trump Media & Technology Group Corp.
  • The commission finds that DWAC misled investors and the SEC by failing to disclose that it had ...