Digital World Acquisition Corp., a company you’ve probably never heard of, has fallen on hard times. The so-called “blank check” entity attempted to acquire Truth Social and launch Trump’s “free speech” platform on the stock market.
And now the company appears to no longer have an executive office. Instead, he has a mailbox at a Miami UPS store, according to a August SEC filingfirst noticed and reported on by the Financial Times. That’s right: Trump’s future social media site management company is now based in a PO box.
Previously, the main executive office of DWAC was listed on SEC Filings at 78 SW 7th Street in Miami, which corresponds to a WeWork office in downtown Brickell. However, in mid-August, something changed and the company’s primary address on filing with the SEC changed to 3109 Grand Ave #450.
Searching for the new address “brings up a UPS store nestled between an Italian restaurant and a nail salon in the waterfront neighborhood.Coconut Grove neighborhood,” wrote the Financial Times. Gizmodo also searched the address and verified these results. There is an Italian restaurant. There is a nail salon.
There are also a few other fun companies that seem to be based at the UPS store with DWAC. For example, Oura Collective, a public relations company that has posted this word cloud image to its Google Maps listing. And Sobe Lifestyle Group, a boat rental service. That “450” number in the DWAC address matches a mailbox number, according to FT.
The address change doesn’t necessarily mean that DWAC no longer has office space, but if it doesn’t, it’s probably a cost-saving measure.
From the Financial Times:
DWAC, which previously listed a WeWork location in Miami’s downtown Brickell as its address, agreed to pay an Orlando-affiliated company $15,000 a month for office space and administrative support. UPS typically charges around $50 a month to rent its business mailboxes, according to stores contacted by the Financial Times, though prices vary.
The Security and Exchange Commission and a New York grand jury are both investigating DWAC allegations shady dealings and its ongoing merger attempt with Truth Social. Amid investigations, the company began to show signs of financial difficulties and stress. Truth Social itself had a lot of problems from the launch of the platform. And although user registrations have been on the risethe site probably does not meet expectations.
Earlier this month, shareholders were ready to NOT extend DWAC/Truth acquisition. If this vote had taken place, DWAC would have been liquidated on September 8. Instead, CEO Patrick Orlando postponed the official vote for a month, sending the company into limbo.
The company claimed in its filings that it had enough funds to last another three months and that it could finalize the Truth merger deal without a shareholder extension, according to reports of The Washington Post. But ongoing investigations have left the merger frozen, and as The Post pointed out that three months probably wouldn’t be enough for those probes to resolve.