Digital World, Truth Social Extend Deadline for Merger

Digital World Acquisition Corp. stockholders overwhelmingly voted to extend the deadline for its merger agreement with Trump Media & Technology Group Corp that would unlock millions in financing for former President Donald Trump’s Truth Social.

DWAC is a special purpose acquisition company in talks to merge with TMTG, Truth Social’s parent company. On Tuesday, 72 percent of DWAC shareholders voted to extend the merger’s timeline by up to one year.that the previous September 8, 2023, deadline could be a “catastrophic threat” to Truth Social.

TMTG would gain access to more than $1 billion in cash from DWAC’s institutional investors if the deal closes, ReutersThe merger would come at a pivotal time for Trump, as Truth Social is the primary platform he uses to communicate with his supporters. Trump has laid out his policy agenda and spoke on the ongoing criminal cases against him on the platform.SwiderWe are immensely grateful to our stockholders and our working group for their continued trust and support.

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Similar News:همچنین می توانید اخبار مشابهی را که از منابع خبری دیگر جمع آوری کرده ایم، بخوانید.

Truth Social investment partner extends deadline, avoiding liquidationThe extension was granted three days before Digital World would have been required to dissolve itself and return money to investors.
منبع: washingtonpost - 🏆 95. / 72 ادامه مطلب »

Trump’s Truth Social merger with SPAC wins 1-year reprieve with shareholders voteThe long-running negotiations to merge Trump’s media company with a blank check firm faced collapse on Friday if the deadline wasn’t extended.
منبع: MarketWatch - 🏆 3. / 97 ادامه مطلب »

Trump's Truth Social SPAC merger deadline extended another yearDigital World, the special purpose acquisition company planning to take former President Trump's media company public, voted Tuesday to extend the merger deadline another year.
منبع: FoxBusiness - 🏆 458. / 53 ادامه مطلب »