Posted on 09/04/2023 6:32:05 AM PDT by Reno89519
The future of Donald Trump's social media network Truth Social could be decided this week as its parent company fights for a deal that would allow it to go public.
The Trump Media & Technology Group (TMTG), which owns the platform the one-time president frequently uses instead of his formerly beloved Twitter, is facing a potential make or break shareholder vote this week on whether it can merge with Digital World Acquisition Corporation (DWAC), which has raised $300 million from investors.
In October 2021, TMTG announced it would be merging with DWAC, a special-purpose acquisition company [SPAC], or "blank-check" acquisition company, in a move that would see its value on the stock market potentially hit $1.7 billion once public.
The planned merger has been frequently delayed, with the deadline for the deal to complete now set for September 8. On September 5, DWAC will hold a meeting in order to convince stockholders to grant the one-year extension to complete the deal.
If the required 65 percent approval vote threshold fails and a deadline is not extended, DWAC will be forced to liquidate and return the $300 million it raised back to the shareholders, leaving Trump's Truth Social platform with a potentially rocky future.
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"If more of our stockholders do not promptly vote for the extension, we will be forced to liquidate on September 8, 2023.
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"The deal does seem to be running out of time, ...You can't just keep getting extensions forever."
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In July, the Securities and Exchange Commission found that DWAC had misled investors and the SEC ... and fined $18 million.
DWAC also removed its former CEO Patrick Orlando [and] another former board member, Bruce Garelick, arrested in June on suspicion of insider trading.
(Excerpt) Read more at newsweek.com ...
Truth Social roll-out was an embarrassing and spectacular failure from which it never recovered. It current has around 500,000 daily users and around 2 million monthly users. Despite protestations, Trump gave up on it and recently returned to Twitter, now X.
X? 206 million daily active users and 368 million monthly users.
So, a question and challenge, did you buy stock in Truth Social via DWACU? I'd love to hear from people that did and as a result have a stake or standing in this discussion.
What ya got on Brandon FJB’s Golden Slippers Club? Is the end coming?
And that has to do with DWACU how? Why don’t you let us investors discuss our DWACU investment in Truth Social?
You sleazy lawfare addicts have got some karma headed your way.
We supported Trump with our own personal money. Both investing in Truth Social and donating to his campaigns in 2016 and 2020. Apparently you only talked? Good to know.
I misunderstood. The article you posted appears to cheer the end of Truth Social. I thought you were on their side. I apologize.
You are a full blown idiot
Why not try exercising due diligence before you speak?
Because of Truth Social, Elon now owns Twitter.
What, an idiot for support Trump and Truth Social with my own personal money? Priceless.
Anyone who casts their lot financially or professionally or spiritually with Trump ends up bankrupted and disgraced. You are lucky you get out with merely some financial loss. Many have fared far worse.
Forget it, Reno, it’s Trump town. You’re supposed to smile and say “thank you, sir, may I have another.” Otherwise, you’re a globalist, socialist, neocon, RINO.
Do not listen this whack job. If you have any stocks in DWAC you need to call call Alliance at 1-877-728-4996, today before 6PM. If the vote goes through, and eventually the merger you will be able to sell your shares with a 50% return and that’s on the low side of the guess. If the vote fails you will get back 10.24/share (it’s currently selling at $16/shares. The time for SPAC mergers is about 100 days. This has been going on for 700+ days because the deep state is working overtime to destroy anything “Trump”. Listening to RENO is at best giving away $6/share (it’s only this price because the SEC has been trying to prevent the merger) VOTE FOR and do it today or your VOTE will automatically be “no” and the Never Trumpers will have another Scalp in Devin Nunes.
It’s almost impossible to figure out where to start and answering your ignorance about what’s going on. The vote will not fail but if it did you would only get $10.24 back per share. The rollout was not a spectacular failure the SEC was completely sabotaging the company. Trump did not go back to Twitter. There are considerably more Millions on Truth social than you state. If you really were a shareholder you would absolutely not wish for this to fail. That’s a stupid as it gets pal
And is auguring it into the ground.
Amen wise Prince. A voice of reason in a sea of ignorance
#Fact right there. The return of Twatter 1.0, censorship ("Lawful but awful" and "throttling" free speech) and shadow banning those who don't toe the line with Linda Yaccarino (WEF stooge).
Twitter deserves to die.
So tell me, what has desanctomonious ever built in his entire life? About the same as you, nothing. Loser!
I paid much more than that $10.24 original price and more than the current price. No matter what I do, I lose money. Again, this was a spectacular IT failure. And, again, even Trump himself just returned to Twitter/X.
is the end of ron desantis’ campaign in sight?
Perhaps that’s the question you meant to ask when your tds rose up and took control.
And will
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