Capcom has announced a new digital event that will take place across two broadcasts over the next week.
17.02.2024 - 02:13 / wccftech.com / Trump / Rohail Saleem
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
After being held up for nearly two years on one pretext or the other, including federal investigations on inappropriate disclosures and a full-fledged money laundering inquiry for allegedly receiving funds from Russia's Putin, the planned merger between the SPAC Digital World (DWAC) and the Trump Media and Technology Group (TMTG) - the entity that controls the Truth Social platform - is finally coming to fruition.
We reported earlier this week that the SPAC Digital World was gearing up to announce the date for a special meeting of its shareholders "within two business days," where those shareholders would be required to officially approve the proposed business combination with the Trump Media and Technology Group.
Digital World has just announced via a new filing that the much-anticipated meeting of its shareholders will now occur at 10:00 a.m. on the 22nd of March, 2024:
Once approved, the shares of the merged entity will be able to trade on the Nasdaq index. What's more, former US President Trump will own 78.75 million shares of the combined company, making him by far the biggest beneficiary.
In preparation for its impending merger, Digital World has been setting its financial house in order in recent days. The SPAC issued promissory notes worth $50 million last week to bolster its liquidity. These notes offer annual interest of 8 percent and are eligible to be converted into equity, provided that qualifying conditions are met. Digital World is also likely to get around $35 million from the sale of warrants to certain institutional investors.
Moreover, to induce Trump's media-focused entity to continue to adhere to its merger agreement, Digital World recently announced $6.38 million in cumulative cash bonuses to attract and retain "employees and other personnel associated with TMTG," while also offering 40 million additional earnout shares.
Bear in mind that the Trump Media and Technology Group faced quite serious cash constraints when it could not close its merger agreement with Digital World for an extended period. The SPAC has raised around $293 million in funds via an IPO, which will be placed at TMTG's disposal once the merger achieves closure. As of September 2023, Truth Social had just $1.8 million in cash against total liabilities of $60.5 million.
Capcom has announced a new digital event that will take place across two broadcasts over the next week.
Marty O’Donnell, the famed and beloved composer of the Halo soundtracks has announced his plans to run for Congress to fight for “self-sacrifice, faith, integrity, fidelity, and valor”. And he’s doing this by siding with the man who embodies the exact opposite of every single one of those qualities.
Marty O'Donnell, the former Bungie composer best known for his Halo and Destiny soundtracks, has announced his intention to run for US Congress as a Republican candidate.
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
Following its decision to cut six percent of its workforce last March, EA has announced another round of layoffs — this time affecting five percent of staff (around 670 employees) — as it moves away from «future licensed IP» toward its «owned IP, sports, and massive online communities».
Apple Inc. shareholders rejected a labor-backed request for an artificial intelligence transparency report, which would have delved into whether the company is using the technology ethically.
When will it end? According to GamesIndustry.biz, Electronic Arts announced today that it will be laying off approximately 5% of its workforce which equates to around 670 people. In a note sent out to EA staff, CEO Andrew Wilson indicated the move is part of the company “moving away from development of future licensed IP that we do not believe will be successful in our changing industry.”
Genshin Impact officially announces the premiere date for its Version 4.5 Special Program, revealing all the new details about the game's next update later this week. The HoYoverse RPG's «Special Program» broadcasts have become a highly-anticipated part of the game's development cycle, with the developer revealing new information about the next update in advance of its release. Genshin Impact's ongoing Version 4.4 brought plenty of new content to the game, including new characters Xianyun and Gaming and new areas to explore. Now, players will learn all about Version 4.5 later this week.
NetEase Games has announced its newest triple-A game development studio, BulletFarm. As a “remote-first” developer located in Los Angeles, California, it’s led by David Vonderhaar, known for his work on Call of Duty (specifically the Call of Duty: Black Ops series).
Veteran Call of Duty: Black Ops designer David Vonderhaar has established a new “AAA game studio” with NetEase.
Former Call of Duty: Black Ops design director David Vonderhaar has established BulletFarm, a new AAA game studio, following his departure from Treyarch last summer.
Finnish smartphone manufacturer HMD announced its rebranding plans at the Mobile World Congress (MWC) 2024 Barcelona. The company's name now stands for ‘Human Mobile Devices'. For the last few years, HMD (formerly HMD Global) has been Nokia smartphones. As part of its new multi-brand vision, it aims to create ‘HMD original devices' while it continues to sell Nokia phones. More importantly, the company also announced plans for a Barbie flip phone!