Trump Media & Technology Group completed a deal to merge with Digital World Acquisition Corp., a cash-rich shell company. The merger increases the former president’s net worth by roughly $3 billion.
Category: Special Purpose Acquisition Companies (SPAC)
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Merger of Trump’s Social Media Firm Could Provide Him Needed Cash
The former president’s social media company is finally set to go public. Mr. Trump could borrow against the value of his stake in the company.
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Potential Obstacle to Trump Media’s Merger Appears to Have Been Cleared
Two early founders of Donald Trump’s social media company reached a temporary truce with the company on Saturday.
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Trump Media Sued by Co-Founders, Threatening to Delay Its Merger
Lawsuits could stall Trump Media’s long-delayed merger, which would provide the social media company with cash to fund Donald J. Trump’s Truth Social.
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Trump Media’s Impending Merger May Give Him a Financial Lifeline
The deadline for the former president to pay a $454 million civil fraud penalty coincides with the expected closing of a deal involving his social media platform, Truth Social.
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Digital World Shares Surge as Republican Primary Field Narrows
Shares of the SPAC that plans to merge with Trump Media jumped after Donald Trump’s rival Ron DeSantis quit the primary race.
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Buyer of Trump’s Truth Social Gets More Time to Complete Long-Delayed Merger
Shareholders in a shell company that has been trying for nearly two years to merge with former President Donald Trump’s media company approved a 12-month extension to complete the deal.
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SPAC Tied to Trump’s Media Company Will Pay $18 Million to Regulators
Digital World will pay a penalty to the Securities and Exchange Commission to settle an investigation into its planned merger with Trump Media & Technology Group.
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Two Charged With Illegally Trading Ahead of Trump Media Merger
The arrests come after an investigation by federal prosecutors into trading in the securities of Digital World Acquisition Group, which merged with former President Trump’s social media platform.
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WeWork in Talks With Investors to Help Restructure Debt
The New York Times – Business:The co-working giant is close to an agreement with SoftBank and others for new money and to restructure its debt.
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SPAC Linked to Trump’s Media Company Is Granted an Extension on Merger
The New York Times – Business:Digital World now has more time to close its proposed union with Trump Media. But with Twitter welcoming Mr. Trump back, his media company could be less attractive to investors.
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SPAC Tied to Trump Media Says Early Talks Were Not ‘Substantive’
The New York Times – Business:Lawyers for Digital World recently told regulators that the SPAC had not violated any rules by talking to Trump Media before going public.