Digital World Acquisition (NASDAQ: DWAC) stock is on the move on Tuesday after the company announced an extension for their potential business combination. The extension, which was granted as a result of the support from the stockholders, provides additional time to continue working diligently on the potential business combination. This is the third out of a maximum of four three-month extensions allowed under the business's governing documents.
Patrick Orlando, CEO of Digital World Acquisition, stated “As a result of the support from the stockholders which provided for up to four three-month extensions to provide additional time to continue working diligently on the potential business combination, we are happy to exercise the third of such three-month extensions.” The new deadline is set for June 8, 2023.
In addition to the news from Digital World Acquisition, traders need to know about the stocks of Adamis Pharmaceuticals (NASDAQ:ADMP), Tesla (NASDAQ:TSLA), and Palantir (NYSE:PLTR) that are also in the news on Tuesday. All the latest stock market coverage is available at the provided links.
0. “Dear DWAC Stock Fans, Mark Your Calendars for June 8” InvestorsObserver, 28 Feb. 2023, https://www.investorsobserver.com/news/qm-news/8472653334270615