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Digital World

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business2 years ago

Trump-Linked SPACs Face Financial Turmoil and Uncertainty.

The merger between Digital World Acquisition Corp and Trump Media & Technology Group has been delayed by two federal investigations, one of which is looking into whether preliminary merger discussions between the two companies violated federal securities laws. If the merger is not completed by September 8, Digital World will have to return the $300 million it raised from investors in 2021 through an initial public offering. Executives of Trump Media and some shareholders of Digital World have accused the SEC of trying to run out the clock.