SEC Settlement Propels DWAC; Regions Financial Q2 Earnings Meet Estimates
- July 21st, 2023
- 342 views
Shares of Digital World Acquisition Corp. (Nasdaq: DWAC) surged more than 15% after settling fraud charges with the SEC. The charges were related to material misrepresentations made in forms filed during DWAC's initial public offering and its planned merger with Trump Media & Technology Group Corp. (TMTG).
As part of the settlement, DWAC agreed to a cease-and-desist order and an $18 million penalty, contingent on a merger transaction closure. The company also committed to ensuring future filings are accurate and consistent with the SEC's order.
The settlement clears the path for DWAC's planned merger with TMTG.
$DWAC was trading at $16.00 in pre-market, up $2.64 (+19.76%)
In other news, Regions Financial Corporation (NYSE: RF) released its financial results for the second quarter of 2023, reporting earnings per share (EPS) of $0.59, meeting the consensus estimate. The company's revenue for the same period stood at $1.957 billion, slightly surpassing analysts' expectations of $1.95 billion.
On Thursday, $RF closed at $20.35, reflecting an increase of $0.33 (+1.65%).
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