Digital World Acquisition Corp. (DWAC) +0.16% ,, the special-purpose company (SPAC), looking to take Donald Trump’s Trump Social public rose 0.9% on Friday morning, after former President said that he had been indicted as part of the federal investigation into classified papers. Trump was summoned by federal court to appear on June 13th. The SPAC stock rose by 3.6% after Trump was convicted of sexual abuse and defamation in May 9. It then grew 7.5% within three days, closing May 11 at $13.93, and then retreated. Since October 2021, a merger between Digital World Acquisition and Trump Media & Technology Group is in the works. Digital World Acquisition announced earlier this week that its board of directors had approved an extension to the date by which the company must close a merger. The new deadline is now Sept. 8, 2023, instead of June 8. SPAC stock fell 70.4% in the last 12 months, according to a report released by Digital World Acquisition. The S&P 500 , SPX, +0.62%, however, has gained 6.9%.