Trump's Truth Social Gifted Nearly One More Year to Finalize Shady SPAC Merger After Shareholder Vote

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Thanks to a Tuesday shareholder vote, DWAC will have until September 8, 2023 to complete its merger with Truth Social's parent company.

The extension vote comes at a potentially precarious time for Truth Socal whose brand is directly tied to Donald Trump’s involvement on the platform. The former president “Truths” regularly on the platform and has repeatedly expressed interest in building out its online presence but that was all while he was banned from Twitter. Newly minted Twitter CEO Elon Musk lifted that ban over the weekend“The people have spoken,” Musk said following the poll. “Trump will be reinstated.

There are potential other factors complicating Trump’s return to Twitter too. SEC documents released earlier this yearexclusive posting deal Trump had struck with Truth Social claiming the former president is, “generally obligated,” to post on Truth and not make the same post on another platform for at least six hours.

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Trump Media deal partner says shareholders approve delay of merger with Truth Social parentDigital World Acquisition Corp. aims to take the parent company of Donald Trump's Truth Social public.
Source: CNBC - 🏆 12. / 72 Read more »