Insider filing report for Changes in Beneficial Ownership
"Insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise"
- Peter Lynch
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The following is an SEC EDGAR document rendered as filed.
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Check this box if no longer subject to Section 16. Form 4 or Form 5 obligations may continue. See Instruction 1(b).
Washington, D.C. 20549
Filed pursuant to Section 16(a) of the Securities Exchange Act of 1934, Section 17(a) of the Public Utility Holding Company Act of 1935 or Section 30(h) of the Investment Company Act of 1940
OMB Number: 3235-0287
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1. Name and Address of Reporting Person *
Orlando Patrick Francis
2. Issuer Name and Ticker or Trading Symbol
Digital World Acquisition Corp. [ DWACU]
5. Relationship of Reporting Person(s) to Issuer
(Check all applicable)
_____ Director X __ 10% Owner
X __ Officer (give title below) _____ Other (specify below)
President and CEO
3. Date of Earliest Transaction (MM/DD/YY)
MIAMI, FL33130
4. If Amendment, Date Original Filed (MM/DD/YY)
6. Individual or Joint/Group Filing (Check Applicable Line)
__ X __ Form filed by One Reporting Person
_____ Form filed by More than One Reporting Person
Table I - Non-Derivative Securities Acquired, Disposed of, or Beneficially Owned
1.Title of Security
(Instr. 3)
2. Transaction Date (MM/DD/YY) 2A. Deemed Execution Date, if any (MM/DD/YY) 3. Transaction Code
(Instr. 8)
4. Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4 and 5)
5. Amount of Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 3 and 4)
6. Ownership Form: Direct (D) or Indirect (I)
(Instr. 4)
7. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V Amount (A) or (D) Price
Class A Common Stock 09/08/2021 P 1,133,484 ( 1 ) A $ 10 1,133,484 ( 1 ) I See footnote ( 1 )
Table II - Derivative Securities Acquired, Disposed of, or Beneficially Owned
( e.g. , puts, calls, warrants, options, convertible securities)
1. Title of Derivative Security
(Instr. 3)
2. Conversion or Exercise Price of Derivative Security 3. Transaction Date (MM/DD/YY) 3A. Deemed Execution Date, if any (MM/DD/YY) 4. Transaction Code
(Instr. 8)
5. Number of Derivative Securities Acquired (A) or Disposed of (D)
(Instr. 3, 4, and 5)
6. Date Exercisable and Expiration Date
7. Title and Amount of Underlying Securities
(Instr. 3 and 4)
8. Price of Derivative Security
(Instr. 5)
9. Number of Derivative Securities Beneficially Owned Following Reported Transaction(s)
(Instr. 4)
10. Ownership Form of Derivative Security: Direct (D) or Indirect (I)
(Instr. 4)
11. Nature of Indirect Beneficial Ownership
(Instr. 4)
Code V (A) (D) Date Exercisable Expiration Date Title Amount or Number of Shares
Class B Common Stock ( 2 ) 09/08/2021 S 1,650,000 ( 4 ) ( 2 ) ( 2 ) Class A Ordinary Shares 1,650,000 ( 4 ) $ 0.003 5,490,000 ( 3 ) I See footnote ( 1 )
Reporting Owners
Reporting Owner Name / Address Relationships
Director 10% Owner Officer Other
Orlando Patrick Francis
MIAMI, FL33130
X President and CEO
/s/ Patrick Orlando, as Managing Member of ARC Global Investments II LLC 09/10/2021
** Signature of Reporting Person Date
Explanation of Responses:
( 1 )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.
( 2 )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.
( 3 )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.
( 4 )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."

Reminder: Report on a separate line for each class of securities beneficially owned directly or indirectly.
* If the form is filed by more than one reporting person, see Instruction 4(b)(v).
** Intentional misstatements or omissions of facts constitute Federal Criminal Violations. See 18 U.S.C. 1001 and 15 U.S.C. 78ff(a).

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