💥🦁🌎 DWAC VOTE FOR MERGER ANNOUNCEMENT 💥🦁🌎
🏆 - WINNING - 🏆
I just received a notice to vote for DWAC approval:
- To approve the Merger of DWAC
- To change the name to TMTG - Trump Media & Technology Group
- Board Structure and Composition
- Amendment to Blank Check Provisions
- Authorized Share Charter Amendment
- Amendment and Restatement of the Digital World Charter
- Elect to Director: Kash Patel, W. Kyle Green, Linda McMahon, Donald Trump Jr, Eric Swider, Devin Nunes, Robert Lighthizer
- Incentive Plan Proposal
- The Nasdaq Proposal
- The adjournment Proposal
Special meeting of stockholders to be held March 22nd, 2024 to approve the merger of DWAC and TMTG.
Has any else received notice and voted?
Please share your thoughts in the comments!
Note: No part of this post is meant to be financial advice for anyone. Talk to your financial advisor, and tax accountant, and people you personally know and trust, before making any financial decisions.
I just received notice this morning from Fidelity. My initial thought is to approve whatever the board is asking for, is that the proper thing to do?
I read it and voted all For as suggested.
same
ditto
Ditto Same.
Same
Can I still buy some?
Just asking...I never had stock or attempted to buy and not sure how to go about it
Open a trade account, at e- trade or fidelity or one of the other big brokers. Transfer some money in will take 3 days or so. If you are in a hurry print off the form from your broker and wire the money from your bank. It will cost about 15 dollers.
Search on your broker, for dwac.
Buy
Hodl.
You can also buy the warrents to buy the stock in the future. That's what I bought. I consider them a better value.
Don't use robbinhood, they don't actually buy any stocks.
Why are warrants a better value?
They cost 17.75 and you can convert them soon to stock plus and additional 10.50.
Basicly buy the stock for 28.00.
Stock cuttently is 39.00.
Not only that but I can buy two of them right now for the price of one share. Basicly double leverage for my money.
But the stock is guaranteed at the issue price if the merger does not happen,the warrent isn't. I bought most of my warrents for under 5.
Reminder I am new to this...I have never had stock..I now have fidelity using my cell to do it... how do you purchase warrants? I did purchase stock already in dwac
Just type in dwacw the same place that you typed in dwac. It should come up and it trades the same as the stock.
I would read up a bit on warrents before purchasing, I gave you the quick basics.
Edit. I was wrong it costs 11.50 to exercise them. https://www.reddit.com/r/DWAC/comments/19d2d2t/dwacw_dwac_warrants_are_massively_undervalued/
Here's another good link on warrents.
https://www.sofi.com/learn/content/spac-warrants-explained/
Just checked. Nothing in email about DWAC voting yet.
u/bubble_bursts
I just received my emails from Fidelity. It's legit!
Sticky worthy for all the HODLERS?
💥🚀🌛
Got mine today as well.
Awesome, glad to hear fren!
I received a text message from Alliance Advisers. It provided a link and the information I shared.
As a PSA, before I do anything, or anyone else does, I would like to verify this is legit. I did look them up and the number they provided to call 877-728-4996 showed up on a reddit group talking about dwac a year ago.
I am kind of waiting for more feedback here before doing anything. There is no rush.
Ideally, I will receive a notification from my broker of record for my holdings. I would prefer to log in there and see a notification, rather than just getting some random text.
All feedback is welcomed.
You should get notified by your broker. I use e- trade and recive the info online and by mail.
Thanks fren. I am definitely waiting.
I do seem to recall I was notified a day or two before past alerts from the actual broker to vote though.
Searching my text history, I see two texts from Alliance Advisors on August 9th and August 11th of last year providing the same number to call as today's text, 877-728-4996.
I am leaning towards this being legit. I am still waiting to get an official email from my broker though.
Thanks again for your feedback. I appreciate it.
Also, there was a spike in the stock price at about the same time that I received the text today. @4:04 pm https://finance.yahoo.com/quote/DWAC?.tsrc=fin-srch
I received the text this afternoon and voted FOR all measures. After I voted it showed me that I had voted for X number of shares, and it was the correct amount of shares that I have, so it seems legit. I was sent an email confirmation afterward.
Thank you. I’ve received same but was sure it was legit
Thanks for the update fren!
Like Pbman2, I use e-trade and yes, I did get the email today which pointed me to a survey of questions on proxyvote.com. Questions were the same as you listed. Gitty Up!
Just checked Fidelity but don't see a message yet. They're very good about keeping me informed of important shareholder actions. Will expect to receive it tomorrow.
I'm on Cloud 47 with anticipation!
I got the same and was leery so thanks for checking
You are welcome u/Kayleighsbikeseat 👈🏻
Love your name!
Just got my voting info this morning.
Stickying this to bring visibility. Probably the most important proxy vote for Anons. At least it is for me.
Who would have thought we might all go to the moon together?
That's what I am hoping at least.
It would be such a fun way to get rewarded at the end of this movie.
💥🚀🌛
Hey hey hey, looks like Kash Patel is joining TMTG!
Yep. I voted with the board on everything.
Came in via Fidelity overnight.
I got email from Raymond James this morning
It's real. I just voted through fidelity. Exciting! I still hope stock market tanks so I can buy up some more real quick cheaper.
👏🏻👏🏻
I got my official notice as well!
Let's goooooooooo!!!
tx OP will be watching
You are welcome fren!
I did this morning just before leaving for work. I took a minute before leaving and voted.
VOTED! LFG!
Got Mine! Thanks for the Heads Up!
yes and i followed the boards recommendations on each item
Wish i had bought more shares when it was $17
Voted
I got one from Schwab this morning... and just voted!
👏🏻
💥🚀🌛
Hodling DWAC warrants (DWACW)- do I get to vote? (Assume not because I have not received any notice). Plan to sell right before merger then put some back in DWAC after merger (anticipating shorts driving price down post merger - just a hunch)
If someone can explain the difference between stock, Warrants, and units, that would be very helpful to those who may own different types.
Here's the gist, buying a share is a full share, buying a warrant is buying the right to convert it to a share if the merger goes through.
If you buy a share and the merger fails, I believe you get the price paid back, if you buy a warrant though you get either nothing, or a fraction of paid price.
The warrants are, if I recollect, $12 to convert, I paid under $20 for all my warrants so once converted I'll have shares at less than $30 per. Although I bought fairly early so even the shares I did buy were well under $20.
I'm sure there's more to it than that, but I'm not that knowledgeable enough, maybe someone else will chime in. But as far as units, I don't remember, but it also depends on what broker you're with. My DWAC & DWACW is with E*Trade, they don't offer Units, I also have an account with IBKR, they only offer DWAC, no warrants or units.
Hope that helps!
Thank you! This is helpful and sounds like I could use a little more definitive feedback as well.
$11.50 to convert
Stock is a share of the company. Warrant is like an option to buy a share for a set price post merger - warrants can only be bought and sold pre merger. A Unit contains both a share AND a warrant (or a fraction thereof). Hope that helps
Thank you Red Pill.
Please clarify.
You say Warrants are an option to purchase post merger, but then say they can only be bought and sold pre-merger. So how do you convert it post merger if it cannot be sold?
Does anyone need to sell Warrants or units before the merger takes place?
You can only purchase them before the merger - after the merger, they act like a stock option that you can either execute and pay the $12 (to the new company) to convert to a share (plus any taxes due) or do nothing and lose your initial purchase price for the warrant. Before the merger, you can trade them on the open market (buy and or sell to other investors) just like they were stocks.
No one NEEDS to sell them pre merger but you do not have that option available to you post merger so ... if you think the stock will drop in price shortly after merger (which I do) then it may make since to sell the warrants pre merger when they are trading at a premium, wait for the merger to happen, buy shares of stock after the drop, avoid paying the $12 fee to convert the warrant and any associated taxes you may owe.
I am going to add to this discussion from research I am doing to hopefully benefit all anons.
What Is a Stock Warrant, and How Do They Work?
Stock Warrants 101: An Explainer
DWAC Warrants appear to expire Jun 30th, 2028. This would be a date in which you must sell them or lose everything. https://www.cnbc.com/quotes/DWACW
Pros
Cons
Important It appears that if one were to exercise Warrants after DWAC/TMTG goes public, i.e. merges, then any gains will be taxed as ordinary income. Depending on how much the stock value explodes, if it does, this could be a huge tax hit for some. Everyone should research their own situation on this. Taxation of Stock Warrants
Not financial advice. Do your Own research. Contact your financial planner and CPA before making financial decisions. Work with people you personally know and trust.
yea, what he said^^^^^
The new company has the option to call the warrants to raise money post merger (which they VERY often do) in which case you cannot just sit on them. I'll still hold onto a few just to see what happens with them because the payout could be yuge but I'm not willing to bet the farm on it.
Nope, no vote on warrants. Why sell? Converting them to full shares is only $12 per warrant once the merger happens. My thought anyway, I have a mix of DWAC & DWACW, I'll just pay the fees and be done.
Why sell? Money. Historically, the price of warrants bump up as the merger date gets closer. The stock price tends to drop post merger because of profit takers and shorts. You can trade warrants just like the stock pre-merger but can only execute the warrant post merger AND pay the tax on any increase in value so its not just the $12 .
My plan, sell warrants for a profit pre merger when they are at their highest, use that money to buy stock post merger after stock price drops back down after initial exuberance dies down. Avoid paying $12 fee to covert and not pay taxes on the profit (I anticipate TMTG to call the warrants so I don't think I'd be able to just sit on them)
Hmm, interesting...
Something to keep an eye on, thanks for that!
I'm reading that SPAC warrents will trade post merger.
https://www.sofi.com/learn/content/spac-warrants-explained/
is their something different with DWACW?
Nope - I stand corrected. investors can buy and sell on the open market after the merger as well - I was confusing this with the when they can be issued by the SPAC, which is before the merger only. I still believe they will be at their highest valuation (in the case of where I bought them, at least) right before the merger. I will still hang on to some until after the merger and hold out until forced to redeem them by the new company (TMTG). New stock has to be issued for any warrants redeemed so if that happens all at once, either by a call or by them redemption date (June 2028). and that tends to drive the price down through dilution....or so I've read...
My plan is to try and sell the warrents at their best price and use the money to convert the rest.
But I don't expect this stock to act normally.
I will just hodl and see what happens.
Just bought 50 more today with the dip, probably buy 50 more tommorow I'm thinking it will dip all the way up to friday.
$11.50 to convert
Can I still buy stock
Yep, sure can as long as you have a trading account and funds.
I voted, to the moon Alice!
💥🚀🌛
What financial advisor. BUY HODL DRS $GME.
I own shares of DWAC but have not received the notification yet.
I did! Voted Yes for all of my Fidelity shares this morning. -I have a few in Robinghood also but I haven't gotten a notice from them.