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
65% of all stock must vote yes.
Subject to the foregoing, the affirmative vote of at least 65% of the Company’s outstanding shares of common stock, including the Founder Shares and the shares of Class A common stock underlying the Private Placement Units, will be required to approve the Extension Amendment Proposal. Stockholder approval of the Extension Amendment is required for the implementation of our Board’s plan to extend the date by which we must consummate our initial business combination.
https://www.sec.gov/Archives/edgar/data/1849635/000119312522213753/d386906dpre14a.htm