Interesting that this firm is involved in addressing new SPAC legislation, https://www.mofo.com/resources/insights/220411-sec-proposes-sweeping-regulations-regarding-spac.

A SPAC is what DWAC (Truth Social) is. It is my understanding that a Special Purpose Acquisition Company is a company set up as a public company for the purpose of being acquired or merged with a non-public company.

My interpretation is that this would allow Truth Social to go public without needing to do an IPO (Initial Public Offering), which is a traditional way to go public. Doing an IPO takes a long time and relies on companies liek Goldman Sachs to offer the stock and go public.

The merger/acquisiton route allows a company to go public much sooner with less hurdles.

My assumption is that Trump chose the SPAC route because he knows Wall Street will completely sandbag an IPO.

Anyways, thought the link might be interesting.

Thanks for finding their homepage u/pente1776 👈🏻