Patrick Orlando - Sep 2, 2021 Form 3/A - Amendment Insider Report for Digital World Acquisition Corp. (DWAC)

Signature
/s/ Patrick Orlando
Stock symbol
DWAC
Transactions as of
Sep 2, 2021
Transactions value $
$0
Form type
3/A - Amendment
Date filed
9/10/2021, 05:57 PM
Date Of Original Report
Sep 2, 2021
Next filing
Sep 10, 2021

Derivative Securities (e.g., puts, calls, warrants, options, convertible securities)

Type Sym Class Transaction Value $ Shares Change % * Price $ Shares After Date Underlying Class Amount Exercise Price Ownership Footnotes
holding DWAC Class B Common Stock Sep 2, 2021 Class A Common 7.14M See Footnote F1, F2
* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id Content
F1 As described in the registrant's registration statement on Form S-1 (File No. 333- 256472) under the heading "Description of Securities--Founder Shares", the shares of Class B common stock will automatically convert into shares of Class A common stock at the time of the registrant's initial business combination on a one-for-one basis subject to certain adjustments and have no expiration date.
F2 These shares represent the Class B common stock held by ARC Global Investments II LLC (the "Sponsor"), acquired pursuant to a subscription agreement by and between the Sponsor and the registrant. The Class B common stock owned by the Sponsor includes up to 937,500 shares that are subject to forfeiture in the event the underwriters of the initial public offering of the registrant's securities do not exercise their over-allotment option in full as described in the registrant's registration statement. The reporting person is the managing member of the Sponsor, and may be deemed to have beneficial ownership of the founder shares held by the Sponsor. The reporting person disclaims beneficial ownership over any securities other than to the extent of any pecuniary interest he may have therein, directly or indirectly.

Remarks:

This amendment is being filed to correct an error in the number of shares reported on the Form 3 filed by the Reporting Person on September 2, 2021.