Trump SPAC Digital World drops after filing on resale of up to 100M shares
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Trump SPAC Digital World Acquisition (NASDAQ:DWAC), which is taking Trump's social media company and app Truth Social public, ticked down 1.3% after a new filing indicating the potential sale of 100 million shares by selling holders.
DWAC filed for the resale of up to 100 million shares of new Digital World (DWAC) stock by selling holders, according to an 8-K filing.

The filing comes after DWAC earlier this month announced it filed its registration statement on Form S-4. The deal is now expected to close in the second half of this year.
Digital World Acquisition (DWAC) saw a massive rally in the wake of news that it will take Trump's new media company public via a SPAC merger. The stock gained more than 350% when the news was announced Oct. 21. DWAC shares have dropped about 55% from their highs in early March.
Trump, who has been banned from Twitter (TWTR), Facebook (FB) and Google (GOOGL) is marketing Truth Social as an alternative outlet to those social-media giants.
Earlier this month, Truth Social stressed dependence on Trump in SEC filing.