Digital World Acquisition Corp. (DWAC) Stock Price
Digital World Acquisition Corp. is a blank check company, which was formed for the purpose of acquiring, engaging in a share exchange, share reconstruction and amalgamation with, purchasing all or substantially all of the assets of, entering into contractual arrangements with, or engaging in any other similar business combination with one or more businesses or entities. The company was founded on December 11, 2020 and is headquartered in Miami, FL. DWAC specifically focuses on acquiring companies in the digital world sector, making it an attractive choice for technology-driven businesses. The concept of SPACs dates back to the 1990s, but they gained significant momentum in the 2000s. SPACs are essentially shell companies that raise funds through an initial public offering (IPO) with the sole purpose of acquiring an existing company. This allows the target company to bypass the lengthy and complex IPO process and become publicly traded through a merger with the SPAC.