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.
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.
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.
Shareholders of Digital World Acquisition have approved an extension of the company's merger deadline, giving it more time to complete its merger with the parent company of Truth Social, the social network founded by Donald Trump.
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.
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.
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.
