SPAC seeking merger with Trump's media company agrees to settlement with SEC | CNN Business

📆 7/4/2023 1:01 AM
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Blank-check firm Digital World Acquisition Corp said it reached an agreement in principle with the Securities and Exchange Commission after the commission began investigating the company’s merger deal with Truth Social owner Trump Media & Technology Group.

The terms are not yet definitive, according to an SEC filing, and the final agreement is subject to approval by the commission. If it’s approved, the SEC will enter a cease-and-desist order with the company, finding

amends its IPO filings, it will have to pay the SEC an $18 million civil penalty after the closing of any merger deal. could not be immediately reached for comment.

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Trump SPAC Digital World Acquisition reaches settlement in principle with SEC staffDigital World Acquisition Corp. the blank-check company planning to take former President Trump’s media ventures public via a merger, said on Monday that it...
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