Actions from Digital World Acquisition Corp. — a fictitious company trying to get a former president Donald Trumppublic social media platform — surged more than 50% on Friday after the company announced that they settled the fraud charges with the Securities and Exchange Commission for 18 million dollars.

The rise has taken DWAC shares to around $20, still a long way from the highs above $95 in March of last year.

DWAC is a special purpose acquisition company, or SPAC, that announced plans to merge with Truth Social’s parent company Trump Media & Technology Group in October 2021. The merger has since faced many delays.

DWAC’s settlement with the SEC mandates that the company must pay an $18 million civil penalty if it joins with TMTG and takes the company public. However, if the merger does not happen before the January 1, 2025 deadline and if DWAC returns investors’ money, the SEC agreed to waive the fine.

The SEC alleged improper merger negotiations. It is illegal for SPACS to require specific goals of a merger prior to the actual filing of an initial public offering.

The settlement also comes at the heels of the US government charging three Florida men for insider trading related to DWAC.

The company’s stock has previously seen gains in line with news of the former president’s stock risingfor example, following the announcement of Trump’s 2024 presidential bid and the allegations.

But the DWAC settlement is the latest in a growing list of legal problems that have dogged Trump and his businesses since he left the White House in 2021.

He is currently facing state charges in New York that his company falsified business records. He was also indicted in federal court last month for allegedly mishandling classified documents. Trump has denied wrongdoing in both cases.

Georgia authorities are also investigating Trump, the front-runner for the 2024 Republican nomination, over his attempts to overturn his loss in the 2020 presidential election.

DWAC and Trump’s team did not immediately respond to requests for comment.