In the Matter of Digital World Acquisition Corp.

Reporting cited here

1. documented

   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. documented

   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. documented

   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. documented

   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. documented

   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. documented

   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. documented

   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. documented

   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. documented

   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