Stocks of Digital World Acquisition Corp. (DWAC) soared by 20% during premarket trading on Friday after the SPAC settled with the Securities and Exchange Commission regarding fraud charges. Stocks of Digital World Acquisition Corp. soared 20% in premarket trading Friday after the SPAC reached a settlement with the Securities and Exchange Commission over fraud charges. In the event the Trump Media and Technology Group (TMTG), which is the company’s planned merger partner, completes the merger and goes public, the settlement agreed on was a civil penalty fee of $18 million. SPAC went public in 2021 and signed an agreement to purchase TMTG in October 2021. Stocks of the SPAC have fallen 59% in the last 12 months while S&P 500 SPX, -0.68% is up 13.4%.