For those of us who own DWAC, do we have to do anything to get our money moved over to DJT?
Apparently not. Info provided by a broker.
Merger
TMTG and DWAC
If merged, then DWAC stock exchange symbol changes to TMTG
Nope. Your shares will trade one for one on Monday to djt from dwac I will also remind you to call in this morning and vote if you haven’t voted your shares yet
DWAC has been trading as a special acquisition company (AC) it has little assets beyond its own stock. People buy the stock and drive the price up, on the hope it will acquire a profitable business with its stock. Which it is now trying to do buying (merging actually) with Truth Social. None of this is unusual companies buy other companies with their own stock all the time.
You don’t have to do anything other than vote as a shareholder (if you want). If the deal goes through DWAC will give shares to Trump and his investors to buy Truth. Shareholders don’t have to do anything. One day your account will stop showing DWAC in your account and instead it will probably show DJT as the new ticker symbol.
Caution though, it may become volatile it could go up or down depending on market sentiment of the merger.