If DWAC does not merge the stock holders are entitled to $10 a share to close out their account.
For legal reasons they have to let you know that.
You can vote yes to give more time for the merger to happen. Or you can vote no to get $10 a share.
If 65% votes yes there will be an extension.
They are also saying that if there are not enough yes votes they may cancel the vote. There is a process in place that will allow 2 three month extensions. For a total of 6 months
I just called Fidelity, I don't have any proxy voting listed currently, hopefully it is a staggered rollout and I will see an email soon so I can vote to extend.
I just called Saratoga Proxy @888-368-0379
Joe Mills (cell- 201-300-7344) called me back and explained the proxy emails for DWAC should go out to brokers by Tuesday next week. If I/you don’t receive anything by Tuesday Aug 30th, then call Saratoga and ask for him or call his cell.
Can vote over the phone. Also if you have 2 different accounts they’re each treated separately, so would need to vote twice.
You can log in to your fidelity.com page (not the app), select "Accounts and Trade" in the green banner then select "Statements" from the drop down. Once you land on the statements page look at top of the page but below the green and locate the tabs. Select the "Proxy Material" tab. Mine is already available and I see no reason you shouldn't see yours unless you purchased your securities after the cut-off date OR you own DWACW (warrants). Warrants do NOT have voting rights therefore you will not get that proxy/vote material.
I checked that earlier today after call with Fidelity. I own dwac not dwacw. strange, I will check again. Did you vote to extend already, was it inline and easy to do?
I apologize I must have quickly scanned the available material and didn't realize the proxy material available for vote was for my CFVI/Rumble position. It looks like DWAC material is not yet available.
In regard to the ease of vote. Yes it's user friendly. Once you receive it you will select the "vote" link to the right. You get a pop redirect confirmation. Once redirected to the third party proxy vote page you will be able to vote on each proposal. You'll be able to look over the full detail proxy material which would include the proposed items. Once cast you should be able to change your vote up until the deadline if you decide to do so.
Not sure what vote method will be used but I would get familiar with the two methods if your not already. Cumulative VS Statutory. I forgot if only one proposal is up for vote or many.
It appears to me they are asking if I want to sell my shares at $10, but they are currently worth $30 on the open market. How does this make any sense?
Also, how do I vote, I didn't receive a letter in email or US mail?
Sounds like DWAC's time to complete a business combination with Truth Social is about to expire. The vote is to allow for another 3 months and they can do this again up to 3 times for a total of 12 months before expiration.
Digital World Acquisition Corp. Announces Filing of Definitive Extension Proxy Statement and Reminds Stockholders to Vote in Favor of Extension Amendment Ahead of Special Meeting
As for the price, the company has 0 income and the value is completely on speculation of a merge with Truth. This does not scare me as I have other holdings that are based on pure speculation: GME, TSLA, CFVI, and crypto. I think it's fair to think that some people will panic and sell their shares within the next few days. I wonder if big money will buy the drip.
"The Analysts eye on Digital World Acquisition Corp. (DWAC)
During the last month, 0 analysts gave the Digital World Acquisition Corp. a BUY rating, 0 of the polled analysts branded the stock as an OVERWEIGHT, 0 analysts were recommending to HOLD this stock, 0 of them gave the stock
UNDERWEIGHT rating, and 0 of the polled analysts provided SELL rating.
According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 36.74, with a change in the price was noted -33.83. In a similar fashion, Digital World Acquisition Corp. posted a movement of -53.49% for the period of last 100 days, recording 1,728,186 in trading volumes.
Total Debt to Equity Ratio (D/E) can also provide valuable insight into the company’s financial health and market status. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders’ equity. Debt to Equity thus makes a valuable metrics that describes the debt, company is using in order to support assets, correlating with the value of shareholders’ equity The total Debt to Equity ratio for DWAC is recording 0.00 at the time of this writing. In addition, long term Debt to Equity ratio is set at 0.00."
Ok, talking to muh broker there is no active vote option on DWAC at the moment, a meet was held yesterday, PDFs are up on DWAC's site, haven't read them yet.
The current offer is on the tender only... that is, the offer up now is simply, do you want to take the 10 plus dollar a share offer at this time? No option to vote on extending the deadline for merger, but muh broker thinks that is coming .
So confusion then. I say hold, when the vote to allow more time comes up we all 'should' vote to extend, if we get a chance to vote.
Again, the current offer is simply 'Do you wish to accept 10 plus dollars a share yes or no, and your answer is no. You need do nothing right this minute, only respond if you DO want to shut down and take the loss.
Update: I called Fidelity, they said there are no proxy votes listed for me at this time. Not sure if I missed it or the rollout of voting is staggered. If I get the chance I will vote to extend.
Since others have answered the pricing part I will answer the split part. DWACU (Digital World Units) will be split into DWAC shares and .5 DWACW, at least that is my understanding based on previous communication.
I may even buy more if it goes down. I guess I’m so dedicated to the movement I will go down with the ship. 🤣 I can promise I’ve wasted money in worse places.
DWACW give the holder of that derivative the "right" to buy a common share (DWAC) at a predetermined price before a predetermined date stated on the contract. The buyer/owner of DWACW is NOT obligated to exercise therefore buy the underlying security (DWAC) should it not be profitable.
NOT ADVICE
I don't know the exact details on the contract but here is an example.
When you purchase DWACW your not purchasing stock your purchasing the ABILITY or "right" to buy DWAC (common stock) at a future date. Anyone that does NOT own DWACW and wants to own DWAC would have to buy at the market price. You on the other hand may have purchased the right to buy DWAC (in other words you own the warrant) for $7 for a single right to buy DWAC for $19 at a future date, in this case 2028. So in essence in the year 2028 your cost basis for a single share of DWAC would be 7+19 = $26. Fast forward to 2028 and DWAC is selling on the open market for $46. You would exercise your "right" to buy the "common share" DWAC for $19 (plus your original $7 makes the $26) and now you can immediately sell your DWAC on the open market for $46 which yields you a $20 profit per share.
What's in it for Truth Social/DWAC? Working capital today. You advanced them $7 on the chance that you could make a profit in 2028.
What's the downfall for you? The chance that in 2028 DWAC is selling on the open market for $15 per share in which case you would NOT exercise your right to buy at $19 (as stated in the warrant contract) since buying on the open market is cheaper. In this case you would only lose $7 per warrant that you previously invested in 2022.
Read this earlier. Obvious hit piece ahead of the vote to put fear in their voters. An entire article talking smack of a company backed by three un-named RightForge employees and in classic swamp fashion Fox gives the last small paragraph to Truths defense. All one has to read is that last paragraph and the entire story above it crumbles. It turns out Truth is the one with the dispute with RightForge and stopped paying for breach of contract.
In what world does a grievance against a contractor for breach, therefore a freeze on payments, indicate that a company is having financial issues.
Fox is just as bad as the rest of the scum on the left.
That is not what you think.
If DWAC does not merge the stock holders are entitled to $10 a share to close out their account.
For legal reasons they have to let you know that.
You can vote yes to give more time for the merger to happen. Or you can vote no to get $10 a share.
If 65% votes yes there will be an extension.
They are also saying that if there are not enough yes votes they may cancel the vote. There is a process in place that will allow 2 three month extensions. For a total of 6 months
ok thanks, how do I vote, I haven't received any information, should I call Fidelity?
Check your email. Fidelity will typically send out a notification a holding needs a vote.
I just called Fidelity, I don't have any proxy voting listed currently, hopefully it is a staggered rollout and I will see an email soon so I can vote to extend.
Yeh, people say what they will about Fidelity but I've never known them to miss something important as a shareholder vote request.
sounds like it will hit brokerages like fidelity next week.
I use them and haven't gotten one either.
someone just told me they should get to us by Tuesday.
Thank you for letting me know!!
I got the email about the tender, but not the voting, I guess I will call in.
I just went through this with my CFVI shares. Ignore the tender offer, you will get the PROXY vote notice about a week later.
The CFVI vote was on the merger and board members for the new RUM.
This DWAC vote is probably an extension vote.
I just called Saratoga Proxy @888-368-0379 Joe Mills (cell- 201-300-7344) called me back and explained the proxy emails for DWAC should go out to brokers by Tuesday next week. If I/you don’t receive anything by Tuesday Aug 30th, then call Saratoga and ask for him or call his cell. Can vote over the phone. Also if you have 2 different accounts they’re each treated separately, so would need to vote twice.
awesome thanks for the info.
You can log in to your fidelity.com page (not the app), select "Accounts and Trade" in the green banner then select "Statements" from the drop down. Once you land on the statements page look at top of the page but below the green and locate the tabs. Select the "Proxy Material" tab. Mine is already available and I see no reason you shouldn't see yours unless you purchased your securities after the cut-off date OR you own DWACW (warrants). Warrants do NOT have voting rights therefore you will not get that proxy/vote material.
I checked that earlier today after call with Fidelity. I own dwac not dwacw. strange, I will check again. Did you vote to extend already, was it inline and easy to do?
I apologize I must have quickly scanned the available material and didn't realize the proxy material available for vote was for my CFVI/Rumble position. It looks like DWAC material is not yet available.
In regard to the ease of vote. Yes it's user friendly. Once you receive it you will select the "vote" link to the right. You get a pop redirect confirmation. Once redirected to the third party proxy vote page you will be able to vote on each proposal. You'll be able to look over the full detail proxy material which would include the proposed items. Once cast you should be able to change your vote up until the deadline if you decide to do so.
Not sure what vote method will be used but I would get familiar with the two methods if your not already. Cumulative VS Statutory. I forgot if only one proposal is up for vote or many.
no problem, glad to hear I am not the only one that doesn't have it yet. Thanks for the info.
It appears to me they are asking if I want to sell my shares at $10, but they are currently worth $30 on the open market. How does this make any sense?
Also, how do I vote, I didn't receive a letter in email or US mail?
Sounds like DWAC's time to complete a business combination with Truth Social is about to expire. The vote is to allow for another 3 months and they can do this again up to 3 times for a total of 12 months before expiration.
Digital World Acquisition Corp. Announces Filing of Definitive Extension Proxy Statement and Reminds Stockholders to Vote in Favor of Extension Amendment Ahead of Special Meeting
https://archive.ph/wip/vAgtz
thanks, I am aware of the vote, not sure why I haven't received a proxy letter to vote with, will call Fidelity today.
Just unclear as to the tender offer and why it is set at 1/3 the actual stock price.
I believe that's the unit price every SPAC offers. I'm not super good at this stuff either but...
Interesting.
I just received mine from Etrade - 8:40AM EST.
As for the price, the company has 0 income and the value is completely on speculation of a merge with Truth. This does not scare me as I have other holdings that are based on pure speculation: GME, TSLA, CFVI, and crypto. I think it's fair to think that some people will panic and sell their shares within the next few days. I wonder if big money will buy the drip.
"The Analysts eye on Digital World Acquisition Corp. (DWAC) During the last month, 0 analysts gave the Digital World Acquisition Corp. a BUY rating, 0 of the polled analysts branded the stock as an OVERWEIGHT, 0 analysts were recommending to HOLD this stock, 0 of them gave the stock
UNDERWEIGHT rating, and 0 of the polled analysts provided SELL rating. According to the data provided on Barchart.com, the moving average of the company in the 100-day period was set at 36.74, with a change in the price was noted -33.83. In a similar fashion, Digital World Acquisition Corp. posted a movement of -53.49% for the period of last 100 days, recording 1,728,186 in trading volumes.
Total Debt to Equity Ratio (D/E) can also provide valuable insight into the company’s financial health and market status. The debt to equity ratio can be calculated by dividing the present total liabilities of a company by shareholders’ equity. Debt to Equity thus makes a valuable metrics that describes the debt, company is using in order to support assets, correlating with the value of shareholders’ equity The total Debt to Equity ratio for DWAC is recording 0.00 at the time of this writing. In addition, long term Debt to Equity ratio is set at 0.00."
https://archive.ph/1ogxN
This is standard procedure for a SPAC. Every SPAC offers it. There's nothing underhanded going on.
Ok, talking to muh broker there is no active vote option on DWAC at the moment, a meet was held yesterday, PDFs are up on DWAC's site, haven't read them yet.
The current offer is on the tender only... that is, the offer up now is simply, do you want to take the 10 plus dollar a share offer at this time? No option to vote on extending the deadline for merger, but muh broker thinks that is coming .
So confusion then. I say hold, when the vote to allow more time comes up we all 'should' vote to extend, if we get a chance to vote.
Again, the current offer is simply 'Do you wish to accept 10 plus dollars a share yes or no, and your answer is no. You need do nothing right this minute, only respond if you DO want to shut down and take the loss.
Law requires they gibs you this choice.
got it thx, holding and waiting for proxy vote
Update: I called Fidelity, they said there are no proxy votes listed for me at this time. Not sure if I missed it or the rollout of voting is staggered. If I get the chance I will vote to extend.
HOLD ON, and if you get a letter VOTE YES.(more time)
(Disclaimer: not financial advice...blah blah. lol)
hold them
Since others have answered the pricing part I will answer the split part. DWACU (Digital World Units) will be split into DWAC shares and .5 DWACW, at least that is my understanding based on previous communication.
thanks, I own DWAC stock so I guess no split for me.
Remind me never to invest in individual stocks again
Itnisnt over yet. This is just an offer, I am holding the stock and waiting
I may even buy more if it goes down. I guess I’m so dedicated to the movement I will go down with the ship. 🤣 I can promise I’ve wasted money in worse places.
I am thinking he same thing. Hope Trump knows who the shareholders are and tries not tonscrew us.
Just called Fidelity and they said their forms are not avail. @ this time even thou I received Important Tender offer reminder.
someone told me the brokerage houses should send proxy vote forms by tuesday
https://old.reddit.com/r/DWAC/ seems based for info on the stock. I admit I haven't spent a whole lot of time there.
What about the DWACW shares? Someone once explained that they are warrents (promissory notes?) and not shares.
How does this news affect DWACW's?
No effect, can’t vote if you only have warrants.
this tender offer may not happen, it only happens if the extension doesnt happen.
but I believe the warrants may get converted to stock but not 1 to 1.
DWACW give the holder of that derivative the "right" to buy a common share (DWAC) at a predetermined price before a predetermined date stated on the contract. The buyer/owner of DWACW is NOT obligated to exercise therefore buy the underlying security (DWAC) should it not be profitable.
NOT ADVICE
I don't know the exact details on the contract but here is an example.
When you purchase DWACW your not purchasing stock your purchasing the ABILITY or "right" to buy DWAC (common stock) at a future date. Anyone that does NOT own DWACW and wants to own DWAC would have to buy at the market price. You on the other hand may have purchased the right to buy DWAC (in other words you own the warrant) for $7 for a single right to buy DWAC for $19 at a future date, in this case 2028. So in essence in the year 2028 your cost basis for a single share of DWAC would be 7+19 = $26. Fast forward to 2028 and DWAC is selling on the open market for $46. You would exercise your "right" to buy the "common share" DWAC for $19 (plus your original $7 makes the $26) and now you can immediately sell your DWAC on the open market for $46 which yields you a $20 profit per share.
What's in it for Truth Social/DWAC? Working capital today. You advanced them $7 on the chance that you could make a profit in 2028.
What's the downfall for you? The chance that in 2028 DWAC is selling on the open market for $15 per share in which case you would NOT exercise your right to buy at $19 (as stated in the warrant contract) since buying on the open market is cheaper. In this case you would only lose $7 per warrant that you previously invested in 2022.
Read this earlier. Obvious hit piece ahead of the vote to put fear in their voters. An entire article talking smack of a company backed by three un-named RightForge employees and in classic swamp fashion Fox gives the last small paragraph to Truths defense. All one has to read is that last paragraph and the entire story above it crumbles. It turns out Truth is the one with the dispute with RightForge and stopped paying for breach of contract.
In what world does a grievance against a contractor for breach, therefore a freeze on payments, indicate that a company is having financial issues.
Fox is just as bad as the rest of the scum on the left.
My son sent this link to me yesterday. I am concerned, but stilll HODL.