SPAC buying Trump’s Truth Social sees stock fall amid CFO exit

Digital World Acquisition Corp.
DWAC,
-3.15%,
the special-purpose acquisition company looking to take public Donald Trump’s Truth Social platform, disclosed in a Friday filing with the Securities and Exchange Commission that Chief Financial Officer Luiz Philippe Braganza resigned. The resignation was effective Dec. 9, and it “did not result from any disagreement with the company concerning any matter relating to the company’s operations, policies or practices,” per the filing. Additionally, Digital World noted that two members of the board of directors resigned. Lee Jacobson’s resignation was effective Nov. 28, while Rodrigo Veloso’s resignation was effective Dec. 9. Neither one was related to disagreements with the company on operations, policies, or practices. Shares of Digital World were off about 5% in premarket trading Friday.