Demand the SEC allow the TMTG/DWAC merger to proceed
On behalf of the many retail investors of Digital World Acquisition Corp (DWAC) and Trump Media and Technology Group (TMTG), we the shareholders call on the Security and Exchange Commission to bring a SWIFT END to the PROLONGED and INAPPROPRIATE REVIEW of the proposed merger between DWAC and TMTG.
We retail investors are hard working members of society that pay our taxes and conform to the financial laws put forward by elected officials. With that being said, these tax dollars are going to support the Security and Exchange Commission (SEC), which in turn has done a SEVERE disservice to the hard working people that are invested in the potential merger of DWAC and TMTG.
One of the core duties of the SEC is to protect retail investors. However, everything is being done in your power to delay this business merger with a garbage investigation that has yet to turn up ANY evidence of wrongdoing. Because if this, the SEC is harming retail investors that believe in the future of this company and in the future of American freedoms.
This information should be conveyed to the top person at the SEC in charge of acquisitions.
(1) If after this prolonged investigation, the SEC’s only qualm/complaint is that there was an advance communication between the SPAC and its acquisition candidate/target/goal, then we want it to be known that that is exactly the way we, the majority of shareholders of DWAC, WANT it to be. In our view, the prior communication to confirm the feasibility of the merger, is the ideal way for a SPAC to do business, because a SPAC without any feasible and attractive candidates in mind, is too risky! The choice of the candidate(s) is central to our decision on whether to invest in DWAC. Otherwise, it’s like a business without any concrete plan or mission. Only if potential investors know who/what the target is, will they have a basis to evaluate/gauge the chances of success of the business acquired.
(2) The prior communication is not a violation of any rule, regulation or formal statement of the SEC, unlike what the political opponents and media have portrayed. The SEC’s guidance document on disclosure considerations for SPACS doesn’t say that there shouldn’t be any prior communication.
(a) It only expresses its opinion that potential conflicts of interest (if any) ought to be disclosed.
(b) It is only a staff guidance with no legal force or effect. It clearly states so in the second para:
“This guidance is not a rule, regulation, or statement of the Securities and Exchange Commission. Further, the Commission has neither approved nor disapproved its content. This guidance, like all staff guidance, has no legal force or effect: it does not alter or amend applicable law, and it creates no new or additional obligations for any person.”
(3) If the qualm is that the prior communication is okay but that it should’ve been formally disclosed earlier, we the shareholders want it to be known that we knew about the intended target/purpose at the time we all made our decisions to buy stock in DWAC. So there is no deceit, ignorance or conflict of interest between DWAC and its shareholders. Further, if any directors had any communications and interests in the candidate company, we the shareholders are fine with it, the way it is. Sabotaging the merger, would do us immense economic harm and deliver a huge blow to our freedoms, quality of life and the future of the country.
We THE PEOPLE are tired of your games and delaying this merger. By following the hashtags #DWACtheSEC, #Rocktheproxy, and many others on TruthSocial and Twitter you can easily see the frustrations of the many retail investors holding shares in this company. We believe it is time for the SEC will do what is right and stop these political games and protect the individual investor by ceasing this fraudulent investigation and allowing the company merger to proceed.
WE THE PEOPLE will always stand together against corruption. We expect a PUBLIC response in a timely manner.