Trump-Tied SPAC Faces Rally Risk as Sponsors Seek Extension

Digital World Acquisition Corp., the SPAC seeking to take Donald Trump's media company public, is asking investors to extend the deadline for closing the deal by another 12 months. This would be the fifth extension and would give the company more time to overcome legal hurdles. The SPAC must complete the deal by September 8 or risk returning its $300 million to investors. The delay in the vote comes after the SPAC reached a settlement with the SEC and made changes to the deal structure to ensure Trump's commitment. However, the deal remains uncertain, and the SPAC will need investor approval to extend the deadline.