DWAC Stock Price Up as SPAC Switches to a PO Box at a UPS Location as Its New Address


DWAC stock price was trading at 17.52 as of 03:52 PM EDT – a slight increase.

The listed address of Trump SPAC Digital World Acquisition (NASDAQ:DWAC), which is going public with Trump’s social media company and platform Truth Social, has been changed to a post office box at a UPS location in Coconut Grove, Florida.

Some of DWAC’s most recent regulatory filings included the new location. According to a Google image search, the address is listed between an Italian restaurant and a nail salon at 3109 Grand Ave., #450, Miami, FL 33133. If #450 was the store’s PO box office, the individual who answered the phone at the UPS location declined to confirm it.

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The change of location comes as DWAC said late on Friday that it has received termination notices from PIPE investors totaling $138.5 million of the $1 billion PIPE investment disclosed in December. According to an 8-K filing, the investors delivered the notices between Monday and Friday.

The Financial Times, which broke the story on the PO box, stated that DWAC’s initial address was 78 SW 7th Street Miami, FL 33130, which is the location of a WeWork office in Miami’s Brickell business district. It’s unclear if DWAC still pays rent for the WeWork office space.

A request for comment from Seeking Alpha via email received no immediate response from DWAC.

DWAC Stock Price, Future Forecast

The address change is also in response to an FT article from earlier this month that claimed DWAC neglected to pay a proxy solicitation fee in order to convince shareholders to vote in favor of the SPAC’s merger with Trump Media & Technology Group. In a regulatory filing, DWAC stated earlier this month that it had hired proxy solicitor Alliance Advisors and had agreed to pay a $10,000 fee.

The PIPE termination notifications come as DWAC struggles to secure the 65% of shareholders required to accept the merger with Trump’s media company. In an effort to secure more votes, DWAC has postponed a shareholder vote until Oct. 10. DWAC stock price was trading at $17.52 as of 03:52 PM EDT before the market closed. 

Featured Image-  Megapixl @ Maksstock78

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