Digital World Acquisition Corp. ( DWAC ) shares are trading higher Friday as shareholders are set to vote on the proposed business combination with Trump Media & Technology Group (TMTG).

The Details:

Digital World is scheduled to hold a special stockholder meeting to vote on the proposed business merger with TMTG on Friday. If approved, Digital World will undergo a merger with Trump Media & Technology Group, with TMTG becoming a wholly owned subsidiary of Digital World.

Following the completion of the merger, Digital World will undergo a name change to “Trump Media & Technology Group Corp.”

Upon merger approval, Trump Media would gain immediate access to 87.5 million shares, along with an additional $30 million worth of shares if the stock maintains a value above $17.50 for 20 consecutive trading days. 

Trump’s potential ownership of 127.5 million shares could translate to an estimated value of around $5.6 billion based on current market prices.

Former President Trump faces a series of legal cases ahead of the election in November, and Trump’s legal team filed a brief with the U.S. Supreme Court outlining why he should be granted “ultimate immunity” on Wednesday.

In a separate New York civil fraud case, Trump was unable to secure a bond to cover a $454 million judgment, bringing him closer to the potential seizure of his properties.

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How To Buy DWAC Stock?

By now you're likely curious about how to participate in the market for Digital World Acquisition ( DWAC ) – be it to purchase shares, or even attempt to bet against the company.

Buying shares is typically done through a brokerage account. You can find a list of possible trading platforms here. Many will allow you to buy ‘fractional shares,' which allows you to own portions of stock without buying an entire share. For example, some stock, like Berkshire Hathaway, or Amazon.com, can cost thousands of dollars to own just one share. However, if you only want to invest a fraction of that, brokerages will allow you to do so.

In the the case of Digital World Acq, which is trading at $44.02 as of publishing time, $100 would buy you 2.27 shares of stock.

If you're looking to bet against a company, the process is more complex. You'll need access to an options trading platform, or a broker who will allow you to ‘go short' a share of stock by lending you the shares to sell. The process of shorting a stock can be found at this resource. Otherwise, if your broker allows you to trade options, you can either buy a put option, or sell a call option at a strike price above where shares are currently trading – either way it allows you to profit off of the share price decline.

DWAC Price Action: According to Benzinga Pro, Digital World shares are up 12% at $47.97 at the time of publication.

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