Trump-linked SPAC changes address to UPS Store as investors pull more than $130 million

Digital World Acquisition Corp. has changed its listed address to a UPS Store in Miami. DWAC lost $138.5 million of the $1 billion in financing from private investors in public equity, also known as PIPE, to fund Trump Media after the merger. Trump Media and DWAC are the subject of a Securities and Exchange Commission probe into whether alleged discussions between the two companies prior to the merger violated securities laws. The company is also underwhelmed by the popularity of Trump Media’s Truth Social app as measured by Donald Trump’s follower counts.

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