Trump Media merger partner shares rise

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Shares of the merger partner of Donald Trump social media company jumped in premarket trading the morning after the former president was indicted.

The company is a blank check company formed for the purpose of creating mergers and asset acquisitions.

The former president was indicted on Thursday as part of the Manhattan District Attorney's Office's years-long investigation, possibly for hush money payments. Manhattan District Attorney Alvin Bragg has been investigating Trump for hush money payments made leading up to the 2016 presidential election.

Truth Social was launched in February last year after Trump was banned from Twitter and Facebook, following the U.S. Capitol insurrection.

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