Trump’s SPAC deal tests stock-market faithful with clock ticking

Cordell Eminent Scholar Jay Ritter comments on Digital World Acquisition Corp., the special-purpose acquisition company that’s seeking to take Trump’s nascent media company public. While Digital World recently struck a tentative agreement with the Securities and Exchange Commission to end its probe of the deal and investor behavior indicating they believe the deal will go through, other hurdles remain. As it stands, the takeover needs to be completed by September 8 unless backers can persuade shareholders to extend the deadline for a fifth time.

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