The shareholder vote, tentatively scheduled for September 6th, 2022, is to extend the deadline to complete the business combination by one year from September 8, 2022 to September 8, 2023.
As many of you know, the SEC is trying to screw DWAC and TMTG by a phony investigation. As these investigations take time, the companies need more time to complete the business merger.
What does this mean: If the vote does not pass, the business merger will not pass and the shares will all be liquidated. This would be bad. We need this vote to pass.
Shareholders will get cards to vote by mail sometime in the next month. I recommend filling these out incase you cannot be present on September 6th during the live vote. Make sure your mailing address is up to date. Otherwise you can vote on September 6th at the shareholder meeting as long as you have your shareholder access code.
TLDR: Any shareholder of DWAC needs to vote in favor of extending the deadline for the business combination between DWAC and TMTG or else the deal is dead.
See here for full details: https://www.sec.gov/Archives/edgar/data/1849635/000119312522213753/d386906dpre14a.htm
True, however if you read the fine print, the Board of DWAC feel that if the extension is not granted then the merger will not occur. Now, they could be lying. However assuming they are acting in the best interest of the shareholders, they must have a good reason for requesting the extension and for stating that without the extension the merger will not occur.