Tiny Red HandsBack

In the Matter of Digital World Acquisition Corp.

This primary source from U.S. Securities and Exchange Commission supports 9 claims across 6 ledger entries.

Publisher
U.S. Securities and Exchange Commission
Published
2023-07-20
Source quality
primary

All sources · Open original source

Claims supported by this source

  1. factdocumented

    DWAC's offering filing represented that it had not selected a target or initiated substantive discussions with one.

    Findings 5-13 describing IPO representations

    DWAC's SEC Misrepresentation Settlement: Promised · Promised

  2. analysisdocumented

    The announced PIPE was committed capital conditioned on a future merger closing, not cash received by Trump Media on December 4, 2021.

    Summary and paragraphs 2-9 concerning pre-announcement discussions and disclosures

    Digital World PIPE Financing Commitment: Audit finding · Cited analysis

  3. factdocumented

    The financing was contingent on the business combination and subject to conversion-price adjustments and transaction risks.

    Summary and paragraphs 2-9 concerning pre-announcement discussions and disclosures

    Digital World PIPE Financing Commitment: Evidentiary limit · Evidentiary limit

  4. analysisdocumented

    The order established securities-law violations by DWAC and required corrective undertakings before the Trump Media transaction proceeded; it did not find Trump personally liable.

    Findings 5-13 describing IPO representations

    DWAC's SEC Misrepresentation Settlement: Audit finding · Cited analysis

  5. analysisdocumented

    The order established securities-law violations by DWAC and required corrective undertakings before the Trump Media transaction proceeded; it did not find Trump personally liable.

    Findings 14-28 and ordering clauses

    DWAC's SEC Misrepresentation Settlement: Audit finding · Cited analysis

  6. analysisdocumented

    The order established securities-law violations by DWAC and required corrective undertakings before the Trump Media transaction proceeded; it did not find Trump personally liable.

    Footnote 1 and named respondent

    DWAC's SEC Misrepresentation Settlement: Audit finding · Cited analysis

  7. factdocumented

    The order's findings bound DWAC in the settlement and were not findings against Trump or TMTG.

    Footnote 1 and named respondent

    DWAC's SEC Misrepresentation Settlement: Evidentiary limit · Evidentiary limit

  8. factdocumented

    The SEC found those filings omitted prior target discussions and violated antifraud provisions.

    Findings 14-28 and ordering clauses

    DWAC's SEC Misrepresentation Settlement: The record · The record

  9. factdocumented

    The challenged filings concerned DWAC's proposed merger with Trump Media.

    Findings 14-28 and ordering clauses

    DWAC's SEC Misrepresentation Settlement: The record · The record