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Digital World CEO says more Trump deal details coming

Digital World CEO says more Trump deal details coming

Former U.S. President Donald Trump waves after his speech during a rally at the Iowa States Fairgrounds in Des Moines, Iowa, U.S., October 9, 2021. REUTERS/Rachel Mummey

Digital World Acquisition Corp Chief Executive Patrick Orlando said that a regulatory filing providing more details on his deal to take former U.S. President Donald Trump's new social media venture public will be published "soon".

Digital World has provided few details thus far about the deal, which gave an initial valuation to Trump Media and Technology Group of US$875 million, including debt.

Despite this, Digital World's shares ended trading on Thursday up 357per cent, the biggest rally in the stock of a special purpose acquisition company (SPAC) following a deal announcement.

"Maybe around Thursday," Orlando said when reached by Reuters by phone and asked when he would be releasing more financial details about the deal.

He added that a "full 8-K filing" will be filed with the U.S. Securities and Exchange Commission soon. He declined to provide more details.

(Reporting by Krystal Hu in New York; Editing by Chizu Nomiyama)

Source: Reuters

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