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Trump’s merger with Truth Social under more scrutiny from the feds



Business associates of former President Donald Trump’s social media initiative announced this week that their business is facing additional scrutiny from federal investigators, but the business is determined to work with Mr Trump’s team.

Digital World Acquisition Corp., a special purpose acquisition company, has a merger agreement with Trump Media & Technology Group, the team behind Mr. Trump’s Truth Social platform.

The U.S. Securities and Exchange Commission recently requested more information from Digital World, including communications with people outside of TMTG and information on Digital World’s financial advisor, according to a regulator. filing It was made public this week from Digital World.

“Any decision of the investigation may result in the imposition of substantial penalties, injunctions, bans, reputational damage, and other sanctions against Digital World in the conduct of Digital World’s business,” Digital World said in a filing with the SEC.

The filing, filed earlier this week, also said the SEC’s order “may materially delay, materially impede, or hinder the completion of the Business Combination.”

Digital World has backed out on any hint that its merger with TMTG is put on hold. Declaration Wednesday.


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“Digital World Acquisition Corp. (“Digital World”) team, Trump Media & Technology Group Corp. It works tirelessly to complete the proposed business combination (“Business Combination”) with (“TMTG”) and meet Digital World. Digital World has given both large and small shareholders the opportunity to participate in the Business Combination process, in a new filing made public Wednesday.

Digital World also said it appreciates that the SEC is working to protect investors and is working with the SEC to provide the information Digital World needs to conduct its investigation.

The SEC had previously refused to comment on the presence or absence of any investigation when questioned about a federal investigation of the Digital World.

TMTG did not immediately comment on Digital World’s new announcements.

Digital World stock rose a little more than 10% during Wednesday morning trading, but fell more than 31% in the previous five days, according to financial advisory firm Motley Fool.





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