You have probably never heard of Digital World Acquisition Corp. The so-called "blank check" entity has been trying to acquire Truth Social and launch Trump's "free speech" platform onto the stock market.
The company doesn't seem to have an executive office anymore. According to an August SEC filing, it has a mailbox at a Miami store. The company that was going to manage Trump's social media site is now located in a P.O. Box.
The DWAC's principal executive office used to be listed on the SEC's website in Miami. The company's primary address on an SEC filing changed in mid-August.
According to the Financial Times, the new address brings up a UPS Store between an Italian restaurant and a nail salon. The results were verified by Gizmodo. There is a place to eat in Italy. There is a place to get your nails done.
There are a couple of other businesses that are based in the same location as DWAC. Oura Collective uploaded a word cloud picture to its Maps listing. There is a boat rental service. The DWAC address has a mail box number.
If DWAC no longer has office space because of the change of address, it is likely a cost saving measure.
The Financial Times has a story on it.
DWAC, which previously listed a WeWork location in Miami’s Brickell City Centre as its address, has agreed to pay a business affiliated with Orlando $15,000 a month for office space and administrative support. UPS typically charges approximately $50 per month to rent out its mailboxes to businesses, according to stores contacted by the Financial Times, though prices vary.
DWAC is being investigated by both the SEC and a New York grand jury. The company has begun to show signs of financial difficulties. The platform had a lot of issues when it was launched. The site is unlikely to meet expectations even though user sign-ups have risen.
The DWAC/Truth acquisition was going to be extended by shareholders. The DWAC would have been dissolved on September 8 if that vote had taken place. The company was put into limbo by the postponement of the official vote by the CEO.
According to a report from The Washington Post, the company claims it has enough money to complete the Truth merger without shareholder approval. Three months is not enough time for the investigations to be resolved.
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