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Digital World Acquisition (NASDAQ: DWAC) shares are trading higher following an announcement the company will merge with Trump Media & Technology Group.
The business combination will result in Trump Media & Technology Group becoming a publicly listed company.
"Trump Media & Technology Group's mission is to create a rival to the liberal media consortium and fight back against the "Big Tech” companies of Silicon Valley, which have used their unilateral power to silence opposing voices in America," said Trump Media & Technology Group in a press release.
Trump Media & Technology Group will be launching a social network named "TRUTH Social" soon, the press release noted.
“I created TRUTH Social and TMTG to stand up to the tyranny of Big Tech. We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced. This is unacceptable. I am excited to send out my first TRUTH on TRUTH Social very soon," said President Donald J. Trump, the Chairman of TMTG.
"TMTG was founded with a mission to give a voice to all. I'm excited to soon begin sharing my thoughts on TRUTH Social and to fight back against Big Tech. Everyone asks me why doesn’t someone stand up to Big Tech? Well, we will be soon,” said Trump.
Digital World Acquisition was trading 147.7% higher at $24.68 per share at the time of publication.
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