Exhibit 99.1
Digital World Acquisition Corp. Announces
Further Adjournment of its Special Meeting of Stockholders
to Approve Additional Time to Complete its Initial Business Combination
The Company recommends all of its stockholders to vote FOR the Extension at the upcoming Special Meeting.
Miami, FL, October 10, 2022 Digital World Acquisition Corp. (Nasdaq: DWAC) (Digital World or the Company) today
announced that it is further adjourning its special meeting of stockholders (the Special Meeting) from October 10, 2022 to 10:00 a.m. Eastern Time on November 3, 2022. The Special Meeting, which was originally scheduled for
September 6, 2022, is being further adjourned in order to solicit more votes toward the approval to further amend the Companys amended and restated certificate of incorporation (Extension Amendment) to extend the period of
time available to complete a business combination up to four times, each by an additional three months, for an aggregate of 12 additional months (or until September 8, 2023) or such earlier date as determined by the Companys Board of
Directors. The Extension Amendment would effectively provide for an additional six months, past the two three-month extensions currently permitted by the Companys existing governing documents, to complete a business combination. The Company
plans to continue to solicit proxies for the Special Meeting until November 3, 2022.
Company recommends all of its stockholders to vote
FOR the proposals submitted at the Special Meeting. The Digital World warrant holders are not entitled to vote at this time. Stockholders, whose shares are held in street name, may vote by (i) logging into their
brokerage firms website and going to the proxy voting tab, (ii) phoning the Companys proxy solicitor, Alliance Advisors LLC (Alliance), at (877) 728-4996, or (iii) by emailing
Alliance at DWAC@allianceadvisors.com.
Important: Digital Worlds public filings and voting instructions can be found on its website,
which is dwacspac.com. Patrick Orlando, Digital Worlds CEO, is also disseminating important public information about Digital World on TruthSocial (TRUTH) and his handle is @thepatrickorlando on TRUTH. To receive updates about the
Special Meeting, Stockholders may follow him on TRUTH if they already utilize the platform, or sign up for TRUTH and follow @thepatrickorlando if they are not on the platform just yet.
Patrick Orlando, CEO of Digital World, stated, In order to get as many votes counted as possible from our valued stockholders, we are further adjourning
our meeting to November 3, 2022. We remind all stockholders to cast their vote and urge stockholders to vote FOR the one-year extension, which we feel will put Digital World in the
best position for our valued stockholders. We are ultimately seeking the ability to extend up to 12 months to enable Digital World to have sufficient time to complete a business combination that our management and board believes will be most
additive to stockholder value.
Mr. Orlando added, We continue to strongly believe that a stockholder vote to approve a one-year extension is important and in the best interests of our stockholders. As of today, those who have voted have overwhelmingly voted FOR the Extension Amendment, and we have added
additional phone lines along with other resources to record the incoming participation; however, we feel it advisable to adjourn our meeting to continue to receive votes and to accommodate the sheer number of voters that have not yet been able to
cast their vote. We are going to keep the vote open to permit, to the best of our ability, all of those stockholders who want to vote whether a large institution, medium size stockholder, or a small retail stockholder with a single share
to have their vote counted. I believe we have some, if not the most, passionate and enthusiastic stockholders of any public company I know of, and I am extremely excited to be amazed by how many our stockholders put in the effort to vote and
have their vote counted along with their fellow stockholders.
The record date for the stockholders meeting to vote on the Extension Amendment
remains the close of business on August 12, 2022 (the Record Date). Stockholders who have previously submitted their proxy or otherwise voted and who do not want to change their vote need not take any action. Stockholders as of the
Record Date can vote, even if they have subsequently sold their shares. In connection with the adjourned date, the Company has further extended the deadline for holders of the Companys Class A common stock issued in the Companys
initial public offering to submit their shares for redemption in connection with the Extension Amendment to 5:00 p.m. Eastern Time on November 1, 2022. Stockholders who wish to withdraw their previously submitted redemption request may do so
prior to the rescheduled meeting by requesting that the transfer agent return such shares.