Trump's Truth Social SPAC merger deadline extended another year

Fox News contributor Tom Homan reacts to sanctuary cities that refuse to take illegal migrants on"Varney & Co."'s media company public will now have another year to complete the deal.

Digital World Acquisition Corp. shareholders voted Tuesday to allow the SPAC up to an additional 12 months to hammer out the details of its merger with the former president's Trump Media & Technology Group, which owns social media platform Truth Social. Digital World Acquisition Corp. shareholders have bought the SPAC another year to complete its deal to merge with Trump Media & Technology Group, which owns Truth Social.

The extension came three days before the previous deadline of Friday that requited DWAC to combine with Trump Media or liquidate and return the $300 million raised in its initial public offering to current shareholders. The new deadline is Sept. 8, 2024.

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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.
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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.
مصدر: washingtonpost - 🏆 95. / 72 اقرأ أكثر »