DWAC Stock: What Will Happen If Shareholders Vote Against an Extension?

Shareholders will vote on Thursday to extend the merger of $Digital World Acquisition Corp (DWAC.US)$ with TMTG.
If 65% of shareholders don't vote for the extension, DWAC could be forced to liquidate.
In the event of liquidation, IPO investors would receive their invested capital back.
What Is the Worst That Could Happen to DWAC Shareholders?
Generally, a SPAC must complete an acquisition within 18 to 24 months of its formation and must use at least 80% of its net assets for each acquisition.
If there is a failure to execute, the agreement would need to be dissolved. In this way, investors would be returned a proportionate share of the assets in escrow.
Although investors do not have the risk of losing all their invested capital, they will make zero investment gains.
The upside is that investors have the opportunity to sell their shares in the market before liquidation occurs.
As for DWAC, according to a recent post by former president on his Truth platform, he may keep his company private — after all, he calls himself "really rich":