Patrick Orlando - Sep 8, 2021 Form 4 Insider Report for Digital World Acquisition Corp. (DWAC)

Role: President and CEO, 10%+ Owner
Signature: /s/ Patrick Orlando, as Managing Member of ARC Global Investments II LLC
Stock symbol: DWAC
Transactions as of: Sep 8, 2021
Transactions value $: $11,329,890
Form type: 4
Date filed: 9/10/2021, 05:58 PM
Previous filing: Sep 10, 2021
Next filing: Dec 13, 2021

Transactions Table

Type	Sym	Class	Transaction	Value $	Shares	Change %	* Price $	Shares After	Date	Ownership	Footnotes
transaction	DWAC	Class A Common Stock	Purchase	$11.3M	+1.13M		$10.00	1.13M	Sep 8, 2021	See footnote	F1

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
transaction	DWAC	Class B Common Stock	Sale	-$4.95K	-1.65M	-23.11%	$0.00^*	5.49M	Sep 8, 2021	Class A Ordinary Shares	1.65M		See footnote	F1, F2, F3, F4

* An asterisk sign (*) next to the price indicates that the price is likely invalid.

Explanation of Responses:

Id	Content
F1	These shares are underlying units (each unit consisting of one share of Class A common stock and one half of one warrant, each whole warrant exercisable to purchase one share of Class A common stock) held by ARC Global Investments II LLC (the "Sponsor"), acquired pursuant to a unit subscription agreement by and between the Sponsor and the issuer. 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.
F2	As described in the issuer'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, par value $0.0001 per share, will automatically be converted into shares of Class A common stock, par value $0.0001 per share, at the time of the issuer's initial business combination, on a one-for-one basis, subject to certain adjustments described therein, and have no expiration date.
F3	These shares represent Class B common stock held by the Sponsor acquired pursuant to a subscription agreement by and between the Sponsor and the issuer.
F4	In connection with the closing of the issuer's initial public offering, the Sponsor transferred these shares to anchor investors pursuant to investment agreements by and among the issuer, the Sponsor and each anchor investor as described in the Registration Statement under the heading "Summary - The Offering - Expressions of Interest."