Trump deal: DWAC’s sister SPACs BENE and ZGYH see warrants rally more than 100% (update)

(Seeking Alpha)

  • Two SPACs run by the same CEO in charge of the company that’s bringing former President Donald Trump’s media company public are seeing their warrants soar 100%+ in early trading Monday, rising sharply for a second straight session.
  • Warrants tied to Benessere Capital Acquisition Corp. (NASDAQ:BENE)(NASDAQ:BENEU)(NASDAQ:BENEW)(NASDAQ:BENER) and Yunhong International (NASDAQ:ZGYH)(NASDAQ:ZGYHU)(NASDAQ:ZGYHW)(NASDAQ:ZGYHR) were up more than 100% shortly after Monday’s opening bell. They’re presumably rising on expectations that the SPACs will reach similar well-received merger deals.
  • The two firms’ units, rights and underlying stock shares are also rising, albeit not as dramatically.
  • Both SPACs are run by Patrick Orlando, the same CEO of Digital World Acquisition Corp. (NASDAQ:DWAC). That’s the special purpose acquisition company that agreed last week to take Trump Media & Technology Group at a $1.7B valuation.
  • DWAC shot up more than 1,600% intraday last week following the merger news. The stock was adding another roughly 17% at last check in pre-market trading Monday.
  • This is a developing story. Check back for updates.