What's Going On With Trump-Linked Digital World (DWAC) Stock Today?

Digital World Acquisition Corp DWAC shares are trading higher Wednesday. New reports indicate the company reached a settlement with the U.S. Securities and Exchange Commission (SEC).

What Happened: According to an Independent report, Digital World Acquisition Corp reached an $18 million settlement with the SEC to end the ongoing investigation into its planned merger. 

Digital World is a SPAC expected to merge with the former President Donald Trump's Trump Media & Technology Group, which is behind the Truth Social app. 

The SEC had been investigating whether Digital World held talks with Trump Media & Technology Group before going public. 

Digital World reportedly said the settlement will "remove the cloud of uncertainty lingering over DWAC and would allow DWAC to move forward in achieving its objective of delivering a strategic merger."

The report indicates that after Digital World pays the $18 million settlement, it will go ahead with its planned merger with the parent company of Truth Social.

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DWAC Price Action: Digital World shares were up 12.6% at $14.24 at the time of writing, according to Benzinga Pro.

Photo: Gage Skidmore from Flickr.