Trump's Truth Social merger partner granted key extension to avoid liquidation

Digital World Acquisition Corp., the blank-check firm seeking to merge with Trump Media & Technology Group, has been granted another year to complete its troubled deal, allowing the merger with Truth Social to proceed until September 8, 2024, after shareholders voted in favor of the extension.

cnn.com

Relevant topic timeline:

9/2/2023

Trump’s Truth Social facing a key funding deadline

Donald Trump's media start-up, Trump Media & Technology Group, faces potential failure as its planned merger with Digital World Acquisition is at risk due to multiple issues and financial setbacks, including legal challenges, insider trading charges, and a missed deadline for closure. If the merger fails, Digital World will have to liquidate and return $300 million to investors, leaving Trump's company with nothing.

9/2/2023

Trump’s Truth Social platform faces uncertain future as key test looms

The deal to take Donald Trump's Truth Social public is facing a crucial test as shareholders are asked to approve another year for the merger, and if they refuse, the company may never reach its envisioned value of $1.7 billion.

9/2/2023

Truth Social, Digital World Acquisitions merger deadline approaches

Digital World Acquisition Corp. (DWAC), a "blank check" company, faces a crucial deadline to close a merger deal with Truth Social's parent company, Trump Media and Technology Group (TMTG), which needs the funds for its public listing and could result in $1 billion in funding if successful.

9/3/2023

Will Trump’s Social Network Go Public? Truth Social’s Parent Faces Looming Deadline This Week.

The parent company of Truth Social, Donald Trump's alternative to Twitter, is facing a critical shareholder vote that will determine whether the media startup goes public or if the merger deal will expire, potentially resulting in the return of $300 million to shareholders and leaving the future of Truth Social uncertain.

9/5/2023

Trump Media Buyer Gets More Time to Complete Long-Delayed Merger

Shareholders of a shell company have approved a 12-month extension for its merger with Donald Trump's media company, increasing the likelihood of Trump Media & Technology Group gaining access to $300 million in funding for the operation of Truth Social, a right-leaning social media platform.

9/5/2023

Trump social media startup wins more time to go public

Investors have granted a one-year extension to Digital World Acquisition Corp., giving them more time to complete the merger with Trump Media & Technology Group and list the combined firm on Nasdaq, potentially saving at least $300 million for Trump Media's social media platform, Truth Social.

9/5/2023

Trump's Truth Social SPAC merger deadline extended another year

Digital World Acquisition Corp. shareholders have granted the SPAC an additional year to finalize its merger with Trump Media & Technology Group, the owner of Truth Social, allowing them more time to take former President Trump's media company public.

9/6/2023

Trump's Truth Social gets a lifeline after deadline for a big cash infusion is extended

Donald Trump's Truth Social received a lifeline as a blank-check company agreed to extend the merger deadline, potentially infusing the social media platform with $290 million and $1 billion from private investors.