The shares of Digital World Acquisition Corp. jump 24% after announcing $ 1 billion fundraising goal – .

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Trade Desk amid booming ad tech actions after Google delays cookie phase-out plans – .


Shares in Digital World Acquisition Corp. DWAC,
+7.15%,
a specialist acquisition firm that agreed to merge with a media property developed by former President Donald Trump, rose more than 24% in after-hours trading on Wednesday, after a report that the entity seeks to raise up to $ 1 billion. Reuters reported just as markets closed on Wednesday that two “people familiar with the matter” said the entity was seeking to raise up to $ 1 billion from hedge funds and others in a private investment linked to PSPC , known as PIPE. DWAC shares surged just before the close on Wednesday for a daily gain of 7.2% to $ 44.35, then rose 24.2% in the extended session. Representatives of DWAC are trying to sell PIPE stock for $ 30 a piece, which would push the company to a valuation of $ 3 billion, according to the report, which indicates that a source witnessed a recent “tour of the company”. presentation ”seeking to raise funds for PIPE. Reuters reported that many Wall Street companies did not attend the roadshows, which were largely populated by representatives of hedge funds, family offices and high net worth individuals, and attendees saw a demonstration of a service called TRUTH Social which looked like Twitter. Inc. TWTR,
-2,55%
A tangentially linked action, Phunware Inc. PHUN,
+11,68 %,
saw stocks jump 40% in after-hours trading.

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