Trump Media deal partner says shareholders approve delay of merger with Truth Social parent

The company has been looking to garner the necessary 65% shareholder support to extend the Trump Media merger deadline to September 2023.This illustration photo shows Donald Trump's new social media app Truth Social's logo on a smartphone in Los Angeles, February 21, 2022..

DWAC has previously failed to get the necessary votes from its large swath of retail investors. The meeting was. DWAC CEO Patrick Orlando initiated a built-in extension with a $2.8 million contribution from his company Arc Global Investments II. The company could liquidate next month if it can't get a merger extension.

The stakes of the vote were particularly high for some of the former president's supporters, who shared on Truth Social and Reddit that they've invested thousands of dollars in DWAC in a nod of support for the platform. The former president previously said he could take the company private. Internal documents have shown that Trump Media also considered mergers and partnerships with other right-wing-friendly platforms, including Rumble and Parler.

United States United States Latest News, United States United States Headlines

Similar News:You can also read news stories similar to this one that we have collected from other news sources.

Celebrating the Culture, Conversation and Comedy of Black Twitter As Social Media Company Faces UncertaintyFrom the moment Elon Musk took the reins at social media platform Twitter, chaos has seemed to envelop the site. But even on Nov. 17, when the farewell tweets were flying and users feared the site would implode, Black Twitter was still Black Twittering.
Source: wttw - 🏆 520. / 51 Read more »