The blank-check firm trying to merge with Donald Trump’s nascent social-media business soared on Friday after settling fraud charges with the Securities and Exchange Commission, clearing a key hurdle for the hotly-anticipated deal.

Digital World Acquisition Corp., the SPAC merging with Trump Media, jumped 93% in its biggest intraday advance since October 2021 after settling allegations it filed documents that were “materially false.” The settlement with the SEC comes weeks after Digital World said it had reached a preliminary agreement which would result in it paying an $18 million fine if the deal is completed.

Read more: Trump-Tied SPAC Misled Investors About Conflicts, SEC Alleges

The raucous surge came as more than 15 million shares changed hands at 10:13 a.m. in New York, 102-times the average over the past 30 days, with at least one volatility halt triggered. Warrants tied to the SPAC spiked as much as 134% to $8. The derivative will be worthless if the deal collapses.

The surge places the SPAC more than 130% above the roughly $10.40 investors will get back if the merger collapses — indicating optimism that the deal will go through.

As it stands, the takeover must be completed by Sept. 8, unless backers can get shareholders to extend the deadline for a fifth time on Aug. 17. Trump Media has said it doesn’t believe it’s bound by the pact beyond the current deadline.