In his latest attempt to return to the social media spotlight, Donald ***** is now turning to a current darling of the startup world: the special purpose acquisition company, or SPAC.
***** announced Wednesday night that he has a new company called ***** Media & Technology Group (TMTG) and that he would be merging this new company with a SPAC called Digital World Acquisition Company (DWAC). If completed, the deal would turn *****’s new media company into one that’s publicly traded on the Nasdaq. And it would give TMTG enough money to get a new Twitter clone off the ground called “Truth.”
The surprise deal is already turning DWAC into a meme stock, and it raises a fair number of questions.
Wait, what’s a SPAC?
Briefly, SPACs are shell…