Trump-Tied SPAC Slips as Firm Delays SEC Filing Amid Big Losses

Digital World Acquisition Corp., which is taking Donald Trump’s nascent media company public, is down 7.5% after the blank-check firm said it wasn’t able to file its 10-K for the year ended Dec. 31, 2022, while losses pile up.

• DWAC expects yearly losses to be at least $10 million, “significantly greater than the loss reported” for the year prior and much higher than most SPACs report
• The special purpose acquisition company said its accounting staff needs more time to prepare the statements and expects it will file the 10-K within the 15 day grace period
• Firm put its directors and officers ...