Tuesday, December 6, 2022

Digital World CEO urges Donald Trump to push shareholders to vote on merger delay

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  • Patrick Orlando, the CEO of Digital World Acquisition Corp. urged Donald Trump to publicize a shareholder vote on delaying the merger with Trump Media and Technology Group.
  • On Oct. 10, DWAC stockholders will vote to extend the deadline of the merger with Trump’s firm, which would take the company and its Truth Social platform public.
  • The same vote failed in September, forcing Orlando to initiate a built-in extension with a $2.8 million injection into DWAC’s trust to keep it afloat.

These are far from the only issues facing DWAC and Trump Media. The two companies are the subject of a Justice Department probe into possible securities violations relating to conversations that occurred between the company representatives prior to the merger. The Securities and Exchange Commission is also investigating the deal.

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Disclaimer: This story is generated from RSS Feed and has not been created or edited by Waba News. Publisher: CNBC

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