Trump-Tied SPAC Jumps After Gaining Long-Awaited SEC Approval

The blank-check firm that’s been looking to take Donald Trump’s media company public soars after receiving a long-awaited nod from the US Securities and Exchange Commission.

Shares of Digital World Acquisition jumped as much as 29% Thursday, its best intraday gain since Jan. 22, after the SEC declared the registration statement for its proposed business combination with Trump Media & Technology Group effective.

Regulatory issues have held up the special purpose acquisition company’s merger with Trump’s media company, which owns the social media platform Truth Social, for more than two years.

The “biggest hurdle for the merger is ...