03:43 PM EDT, 03/25/2024 (MT Newswires) -- Digital World Acquisition's ( DWAC ) investors who backed out from the merger deal with Trump Media & Technology Group took significant losses after redeeming the shares at $10.87 each, Bloomberg News reported Monday.

Shareholders submitted redemption applications for close to 5,000 shares as of the deadline on Wednesday, the company said in a Friday filing.

Redeeming investors received nearly $54,000 compared to about $212,000 for the same stake at the closing price of $42.90 per share on the deadline, according to the report.

Digital World shares were up 37% in recent trading.

The company did not immediately respond to MT Newswires' request for comment.

(Market Chatter news is derived from conversations with market professionals globally. This information is believed to be from reliable sources but may include rumor and speculation. Accuracy is not guaranteed.)

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