SPAC Daily: Will the TWTR News Change DWAC’s Chances?

by | Oct 4, 2022

Today Elon Musk appears (although who knows with him) to have dropped his fight and will instead move forward with his original deal to take Twitter (TWTR) private at $54.20 / share. Other considerations aside, will this news have any affect on the closing proposition for DWAC + Trump Media & Telecom, the group behind the former President’s TRUTH Social Platform.

Trump has been famously (or infamously) banned from Twitter for some time, but perhaps he’d be more apt to rejoin the platform if someone like Elon were at the helm? DWAC common stock dropped over 5% today and its warrants continued to tumble another 2% and stand at just $3.86 now. Get your popcorn.

Elsewhere in SPACs

  • Pathfinder Acquisition Corp. (PFDR) struck a $537M deal with Movella, the deal included $75M of financing
  • Bill Foley’s SPACs Austerlitz I + II (AUS and ASZ) both filed for early votes to accelerate their liquidation dates into 2022
  • Altitude Acquisition (ALTU) filed (on their redemption day) that they intend to merge with a “leading global medical device manufacturer in a deal that pegs the enterprise value of the company at approximately $480 million” The SPAC will be voting on an extension on Thursday
  • Tekkorp Digital Acquisition Corp. (TEKK) announced it will liquidate on 10/26

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<a href="" target="_self">David Drapkin</a>

David Drapkin

Spent his formative years at Goldman Sachs and now embraces the start-up life in NYC. A long suffering Oakland (Las Vegas) Raiders fan and graduate of the Wharton School at the University of Pennsylvania. Semi-professional go-kart racer waiting for his shot.

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