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Digital World Acquisition Corp. (NASDAQ:DWAC) announced it received a notification from Nasdaq regarding non-compliance with Listing Rule 5250(c)(1) for not filing its Annual Report on Form 10-K for the period ended December 31, 2022. The notification does not impact the current listing or trading of DWAC's securities. The company has 60 calendar days, until June 20, 2023, to submit a compliance plan. If accepted, Nasdaq may grant an extension of up to 180 days, until October 16, 2023. However, the company cannot guarantee acceptance of the plan or compliance within the extended timeframe. If they fail to comply, they risk delisting from Nasdaq. DWAC is working diligently to finalize and file their Form 10-K as soon as possible.
Digital World Acquisition Corp. (NASDAQ:DWAC) announced significant changes to its executive team and Board of Directors effective April 11, 2023. Frank Andrews has been appointed as the Non-Executive Chairman, Edward Preble will serve as chairman of the compensation committee, and Jeffrey Smith has joined the Board as chairman of the audit committee. Katherine Chiles has been named Chief Financial Officer, while Alexander Cano has taken on the roles of President and Secretary. Interim CEO Eric Swider emphasized the focus on enhancing corporate governance and building stockholder value through regulatory cooperation and a pending merger vote.
Andrews expressed enthusiasm for the new Board structure, which aims to tackle ongoing challenges more effectively.
Digital World Acquisition Corp (DWAC) has announced it has cured its fee delinquency with NASDAQ, regaining compliance with listing standards. Consequently, a scheduled hearing for April 6, 2023, has been cancelled. This reinstatement enables DWAC to continue trading on the Nasdaq Stock Market. The company aims to execute mergers and similar business combinations. This announcement is a significant positive development for investors, as it alleviates concerns surrounding the company's listing status and allows for continued shareholder engagement.
Digital World Acquisition Corporation (DWAC) has extended the deadline for its initial business combination from December 8, 2022 to March 8, 2023. This extension marks the second of two permissible four-month extensions according to company regulations. Digital World is a special purpose acquisition company designed to merge or acquire one or more businesses. The company continues to navigate forward-looking statements regarding potential business combinations.
