Digital World Acquisition Corp. (DWAC) shares skyrocketed more than 50% in early trading on Friday following a settlement between the 澳♉洲幸运5官方开奖结果体彩网:Special Purpose Acquisition Company (SPAC) and regulatorಞs who accused it of misleading investors. The deal could pave the way for the firm to complete its planned merger with former presid﷽ent Donald Trump’s Truth Social social media company, and take it public. 

The 澳洲🍸幸运5官方开奖结果体彩网:Securities and Exchange Commission (SEC) had charged Digital World of “material misrepresentations” concerning its plans to take Trump Media Technology Group Corp. (TMTG) public. 

In the settlement, Digiꦅtal World agreed to a cease-and-desist order and will pay an $18 million fine.

Digital World and TMTG first announced in October 2021 that they planned to combine. However, the move has been delayed by hesitant Digital World investors. The firm recently extended the deadline to acquire TMTG three months to September 8. 

The former president founded Truth Social after he was banned from Twitter and Meta's (META) Facebook. He n🃏ow has more than 5.5 million followers on the site. 

The news sent shares of Digital World Acquisition Corp. to their highest level this year.