And Just Like That Truth Social is Done

[Zincwarrior]

The underlying SPAC for the Truth Social deal is rolling up and giving back the remaining investment money to its shareholders. Looks like the deal will fall through between 10/31 and 11/21.

SPAC to return remaining $533 million raise for Trump social media deal

NEW YORK (Reuters) -Digital World Acquisition Corp, the SPAC that plans to merge with former U.S. President Donald Trump's media and technology company, said this week it would return to investors $533 million raised for the deal, after some have already backtracked on $467 million of...

news.yahoo.com

NEW YORK (Reuters) - Digital World Acquisition Corp (DWAC), the blank-check acquisition company that plans to merge with former U.S. President Donald Trump's social media firm, said on Thursday it would return to investors $533 million raised for a cash infusion in the deal, after some already backtracked on another $467 million of commitments.

The development is the nail in the coffin of the $1 billion investment that DWAC had raised for the merger with Trump Media & Technology Group (TMTG), which runs the Truth Social platform. It raises further doubts about whether the former U.S. president will go ahead with the deal, now that TMTG no longer stands to receive $1 billion if and when it closes.

The move leaves DWAC with the $293 million cash it had raised in its initial public offering in September 2021, which is set to go to TMTG upon the deal's closing. That pot of money could also shrink if investors opt for redemptions.

It was unclear how TMTG will fund itself if the deal does not go through. TMTG previously raised $22.8 million in financing from private investors, Reuters reported last October.

DWAC and TMTG have added an option to their amended merger agreement that allows either side to terminate the merger deal between Oct. 31 and Nov. 21 if their boards no longer believe the merger will benefit shareholders, according to an Oct. 2 regulatory filing. According to a Feb. 2, 2021 services agreement, Trump controls 90% of TMTG.

Representatives from DWAC and TMTG did not immediately respond to requests for comment.

 

[okfine]

The underlying SPAC for the Truth Social deal is rolling up and giving back the remaining investment money to its shareholders. Looks like the deal will fall through between 10/31 and 11/21.

SPAC to return remaining $533 million raise for Trump social media deal

NEW YORK (Reuters) -Digital World Acquisition Corp, the SPAC that plans to merge with former U.S. President Donald Trump's media and technology company, said this week it would return to investors $533 million raised for the deal, after some have already backtracked on $467 million of...

news.yahoo.com

Poor Donald.

Also, the NDA's for Trump 2016 campaign staffers has been scrapped. Lot's of juicy stories coming.

 

[bodecea]

Devon Nunes have any regrets for the orange sexual abuser destroying him too?

 

[MisterBeale]

Wow, they are just destroying him. Ho-lee-shit.

 

[shockedcanadian]

Wow, they are just destroying him. Ho-lee-shit.

He destroyed the GOP. Really, they destroyed themselves though, they believed Cheney and Romney were popular in America. If no one can step up with better policies than he will win the nomination of GOP, it's that simple.

 

[Procrustes Stretched]

The underlying SPAC for the Truth Social deal is rolling up and giving back the remaining investment money to its shareholders. Looks like the deal will fall through between 10/31 and 11/21.

SPAC to return remaining $533 million raise for Trump social media deal

NEW YORK (Reuters) -Digital World Acquisition Corp, the SPAC that plans to merge with former U.S. President Donald Trump's media and technology company, said this week it would return to investors $533 million raised for the deal, after some have already backtracked on $467 million of...

news.yahoo.com

Hopefully.

 

[Procrustes Stretched]

Devon Nunes have any regrets for the orange sexual abuser destroying him too?

Nunes? What a douche

 

[BULLDOG]

That loser trump loses again HaHaHaHaHaHaHaHaHaHaha

 

[MisterBeale]

He destroyed the GOP. Really, they destroyed themselves though, they believed Cheney and Romney were popular in America. If no one can step up with better policies than he will win the nomination of GOP, it's that simple.

Oh yeah. What the establishment is doing, is really, really transparent to not only Americans, but to every supposedly free place on Earth.

It has got to be scaring the shit, out of not just sane Americans, but intelligent folks the world over.

And now this same old bullshit in the Mideast. Everyone wants to blame the other side, again.

I wish I had a spacecraft to take my family and friends off this rock. I can't believe we didn't learn shit back in '45. Or maybe that's the problem, we did, and the folks that learned it, are now all dead, and the folks that are now in power, are too greedy, too full of hubris, and just don't give a shit or think that it can happen again?
Same 'ol cliches, over and over.
The more things change. . . the more they stay the same.

"... hate your next door neighbor but don't forget to say grace."

 

[rampart]

The underlying SPAC for the Truth Social deal is rolling up and giving back the remaining investment money to its shareholders. Looks like the deal will fall through between 10/31 and 11/21.

SPAC to return remaining $533 million raise for Trump social media deal

NEW YORK (Reuters) -Digital World Acquisition Corp, the SPAC that plans to merge with former U.S. President Donald Trump's media and technology company, said this week it would return to investors $533 million raised for the deal, after some have already backtracked on $467 million of...

news.yahoo.com

who could have seen this coming

employees, investors, and creditors will take a loss while the trump gravy train continues to rake it in. poor devin nunes lolololol.

 

[Fort Fun Indiana]

Wow, they are just destroying him. Ho-lee-shit.

What freakish cult fantasy. Just, embarrassing.

 

[rampart]

Oh yeah. What the establishment is doing, is really, really transparent to not only Americans, but to every supposedly free place on Earth.

It has got to be scaring the shit, out of not just sane Americans, but intelligent folks the world over.

And now this same old bullshit in the Mideast. Everyone wants to blame the other side, again.

I wish I had a spacecraft to take my family and friends off this rock. I can't believe we didn't learn shit back in '45. Or maybe that's the problem, we did, and the folks that learned it, are now all dead, and the folks that are now in power, are too greedy, too full of hubris, and just don't give a shit or think that it can happen again?
Same 'ol cliches, over and over.
The more things change. . . the more they stay the same.

"... hate your next door neighbor but don't forget to say grace."

musk is recruiting mars colonists, enjoy your flight.

 

[MisterBeale]

What freakish cult fantasy. Just, embarrassing.

Oh yeah, we shouldn't believe them at their own words.

Chuck Schumer

Ballotpedia: The Encyclopedia of American Politics

ballotpedia.org

 

[Fort Fun Indiana]

Oh yeah, we shouldn't believe them at their own words.

Schumer does not work in a intelligence agency.

He sad not one word about truth social, and you have not a shred of evidence of your embarrassing cult fantasy.

You're just embarrassing yourself.

 

[MisterBeale]

musk is recruiting mars colonists, enjoy your flight.

I'll wait till they have speedier ships, and planets with more habitable climates.

 

[MisterBeale]

Schumer does not work in a intelligence agency.

He sad not one word about truth social, and you have not a shred of evidence of your embarrassing cult fantasy.

You're just embarrassing yourself.

And you are too stoopid to do any critical thinking of your own.

Unless you are spoon fed something, you are not allowed to figure anything out on your own.

 

[rampart]

I'll wait till they have speedier ships, and planets with more habitable climates.

and transportation home that is not dependent on a petulant authoritarian madman.

 

[Captain Caveman]

Oh yeah. What the establishment is doing, is really, really transparent to not only Americans, but to every supposedly free place on Earth.

It has got to be scaring the shit, out of not just sane Americans, but intelligent folks the world over.

And now this same old bullshit in the Mideast. Everyone wants to blame the other side, again.

I wish I had a spacecraft to take my family and friends off this rock. I can't believe we didn't learn shit back in '45. Or maybe that's the problem, we did, and the folks that learned it, are now all dead, and the folks that are now in power, are too greedy, too full of hubris, and just don't give a shit or think that it can happen again?
Same 'ol cliches, over and over.
The more things change. . . the more they stay the same.

"... hate your next door neighbor but don't forget to say grace."

Never been on Truth Social. Never been on Twitter or X or whatever it is. Don't bother with all that social media crap

Just like you, I wish the planet could just stop revolving so I can get off.

 

[okfine]

What freakish cult fantasy. Just, embarrassing.

 

[Dont Taz Me Bro]

I've noticed Cult 45 is avoiding this thread like the plague.