Deal partner for Trump’s Truth Social fails to get backing for SPAC extension

[berg80]

Deal partner for Trump’s Truth Social fails to get backing for SPAC extension: Reuters, citing sources

The blank-check acquisition firm that agreed to merge with Donald Trump’s social media company failed to secure enough shareholder support for a one-year extension to complete the deal, people familiar with the matter said on Monday.

At stake is a $1.3 billion cash infusion that Trump Media & Technology Group (TMTG), which operates the former U.S. president’s Truth Social app, stands to receive from Digital World Acquisition Corp, the special purpose acquisition company (SPAC) that inked a deal last October to take TMTG public.

The transaction has been on ice amid civil and criminal probes into the circumstances around the deal. Digital World had been hoping that the U.S. Securities and Exchange Commission (SEC), which is reviewing its disclosures on the deal, would have given its blessing by now for the transaction to proceed.
https://www.cnbc.com/2022/09/06/dea...o-get-backing-for-spac-extension-reuters.html

At least some folks are smart enough not to want to get involved with a criminal's business.

 

[Mac1958]

Deal partner for Trump’s Truth Social fails to get backing for SPAC extension: Reuters, citing sources

The blank-check acquisition firm that agreed to merge with Donald Trump’s social media company failed to secure enough shareholder support for a one-year extension to complete the deal, people familiar with the matter said on Monday.

At stake is a $1.3 billion cash infusion that Trump Media & Technology Group (TMTG), which operates the former U.S. president’s Truth Social app, stands to receive from Digital World Acquisition Corp, the special purpose acquisition company (SPAC) that inked a deal last October to take TMTG public.

The transaction has been on ice amid civil and criminal probes into the circumstances around the deal. Digital World had been hoping that the U.S. Securities and Exchange Commission (SEC), which is reviewing its disclosures on the deal, would have given its blessing by now for the transaction to proceed.
https://www.cnbc.com/2022/09/06/dea...o-get-backing-for-spac-extension-reuters.html

At least some folks are smart enough not to want to get involved with a criminal's business.

But the big guy has been bragging about the massive success it has been!

THIS MUST BE FAKE NEWS I TELL YOU

 

[berg80]

But the big guy has been bragging about the massive success it has been!

THIS MUST BE FAKE NEWS I TELL YOU

The transaction has been on ice amid civil and criminal probes into the circumstances around the deal.

I'm wondering, is there any aspect of Trump's life that isn't under criminal investigation?

 

[Harpy Eagle]

But the big guy has been bragging about the massive success it has been!

THIS MUST BE FAKE NEWS I TELL YOU

He also said he is rich and does not need backers. Lets see if he puts is own money where his mouth is.

I got 100 bucks that says he will not

 

[okfine]

Trump the greatest business man EVER!

 

[okfine]

But the big guy has been bragging about the massive success it has been!

THIS MUST BE FAKE NEWS I TELL YOU

I bet it fails. That would be the only truth about Truth Social.

 

[Mac1958]

I bet it fails. That would be the only truth about Truth Social.

The ironic thing is that no doubt a hefty percentage of its members are just there to record the stupid and incriminating things he says.

 

[okfine]

The ironic thing is that no doubt a hefty percentage of its members are just there to record the stupid and incriminating things he says.

I haven't visited that site and never planned to either. Others do it for me. Like some that you mentioned.

 

[TNHarley]

Probably because google play dropped his ass

 

[berg80]

Probably because google play dropped his ass

Nothing to do with.........The transaction has been on ice amid civil and criminal probes into the circumstances around the deal. Digital World had been hoping that the U.S. Securities and Exchange Commission (SEC), which is reviewing its disclosures on the deal, would have given its blessing by now for the transaction to proceed.

Nothing to do with Trump being investigated for criminal conduct in 4 jurisdictions?

 

[berg80]

Probably because google play dropped his ass

A company that agreed to take former President Donald Trump's Truth Social platform public issued a warning this week that the former president's popularity and ongoing investigations could derail the deal.

Company taking Truth Social public warns it might have to liquidate as Trump becomes 'less popular'

A company that agreed to take former President Donald Trump's Truth Social platform public issued a warning this week that the former president's popularity and ongoing investigations could derail the deal.CNBC reported that a special purpose acquisition company named Digital World Acquisition...

www.rawstory.com

 

[lennypartiv]

It would be a shame if this extension doesn't happen. It's hard to find a media outlet that tells us the truth.

 

[Cellblock2429]

Deal partner for Trump’s Truth Social fails to get backing for SPAC extension: Reuters, citing sources

The blank-check acquisition firm that agreed to merge with Donald Trump’s social media company failed to secure enough shareholder support for a one-year extension to complete the deal, people familiar with the matter said on Monday.

At stake is a $1.3 billion cash infusion that Trump Media & Technology Group (TMTG), which operates the former U.S. president’s Truth Social app, stands to receive from Digital World Acquisition Corp, the special purpose acquisition company (SPAC) that inked a deal last October to take TMTG public.

The transaction has been on ice amid civil and criminal probes into the circumstances around the deal. Digital World had been hoping that the U.S. Securities and Exchange Commission (SEC), which is reviewing its disclosures on the deal, would have given its blessing by now for the transaction to proceed.
https://www.cnbc.com/2022/09/06/dea...o-get-backing-for-spac-extension-reuters.html

At least some folks are smart enough not to want to get involved with a criminal's business.

/——/ YAWN

 

[okfine]

Looks like Trump's "Truth Social" is on the skids. $139 Million worth of investment may be pulling out.

"The deal between the special purpose acquisition company (SPAC) and Trump Media and Technology Group (TMTG), which owns Truth Social, has been on ice due to civil and criminal probes into the circumstances around the agreement"

Some investors backing out of SPAC merging with Trump's media firm

Some investors are backing out of Digital World Acquisition Corp's plan to acquire former U.S. President Donald Trump's social media firm Truth Social, the blank-check firm said on Friday.

www.reuters.com

 

[OhPleaseJustQuit]

Looks like Trump's "Truth Social" is on the skids. $139 Million worth of investment may be pulling out.

"The deal between the special purpose acquisition company (SPAC) and Trump Media and Technology Group (TMTG), which owns Truth Social, has been on ice due to civil and criminal probes into the circumstances around the agreement"

Some investors backing out of SPAC merging with Trump's media firm

Some investors are backing out of Digital World Acquisition Corp's plan to acquire former U.S. President Donald Trump's social media firm Truth Social, the blank-check firm said on Friday.

www.reuters.com

Lies

 

[surada]

Looks like Trump's "Truth Social" is on the skids. $139 Million worth of investment may be pulling out.

"The deal between the special purpose acquisition company (SPAC) and Trump Media and Technology Group (TMTG), which owns Truth Social, has been on ice due to civil and criminal probes into the circumstances around the agreement"

Some investors backing out of SPAC merging with Trump's media firm

Some investors are backing out of Digital World Acquisition Corp's plan to acquire former U.S. President Donald Trump's social media firm Truth Social, the blank-check firm said on Friday.

www.reuters.com

Lolol. Trump hasn't fooled the money guys.

 

[Concerned American]

Looks like Trump's "Truth Social" is on the skids. $139 Million worth of investment may be pulling out.

"The deal between the special purpose acquisition company (SPAC) and Trump Media and Technology Group (TMTG), which owns Truth Social, has been on ice due to civil and criminal probes into the circumstances around the agreement"

Some investors backing out of SPAC merging with Trump's media firm

Some investors are backing out of Digital World Acquisition Corp's plan to acquire former U.S. President Donald Trump's social media firm Truth Social, the blank-check firm said on Friday.

www.reuters.com

I guess you missed this one in your partisan search. Let me remind you, this is the most popular social media site on earth. Facebook's $232 billion fall sets record for largest one-day value drop in stock market history
$139M--a drop in the bucket compared to $232 BILLION

 

[Oddball]

"....due to civil and criminal probes into the circumstances around the agreement"

Censorship by lawfare looks like a more accurate description.

 

[okfine]

No denying. It doesn't look good.

"The SPAC that would tie Truth Social to Digital World Acquisition Corp has been buffeted with nothing but bad news for months after an FEC probe of the deal was announced, the Truth Social app was banned from Google Play and the enrollment on the site has stalled out despite Trump being the main attraction since he is banned on Twitter, Facebook and other social media sites"

>>According to the new report, an FEC filing reveals that an estimated $139 million in proposed financing has been withdrawn<<

"Reporting that "The deal between the special purpose acquisition company (SPAC) and Trump Media and Technology Group (TMTG), which owns Truth Social, has been on ice due to civil and criminal probes into the circumstances around the agreement," the Reuters report added, "Digital World said it had received termination notices from private investment in public equity (PIPE) investors ending nearly $139 million in investments out of the $1 billion commitment it had previously announced."

Investors pulling out millions and abandoning Trump's Truth Social SPAC: report

According to a report from Reuters, investors who had planned to be a part of the new business entity behind Donald Trump's Truth Social media platform are bailing and taking their millions in their investment capital elsewhere.The SPAC that would tie Truth Social to Digital World Acquisition...

www.rawstory.com

 

[Concerned American]

Lolol. Trump hasn't fooled the money guys.

Apparently, neither has Zuckerberg. Facebook's $232 billion fall sets record for largest one-day value drop in stock market history