Posted on 02/16/2024 6:29:47 PM PST by conservative98
The funding partner for Trump Media & Technology Group said it has received regulatory approval from securities regulators that will allow it to proceed with a long-delayed merger. The combination could provide former President Donald Trump with a stake worth almost $4 billion.
Digital World Acquisition Corp. (DWAC), a so-called special-purpose acquisition company, said Thursday in a statement that the Securities and Exchange Commission had signed off on its proposed merger with Trump Media. DWAC said it plans to announce within two days a date for shareholders to vote on the deal.
The SEC said it doesn't comment on individual issuers.
Clearing this regulatory hurdle amounts to a major win for Trump and his media business, which runs the conservative-leaning Truth Social platform. The merger has been in the works since October 2021, but had stalled because of regulatory concerns and other roadblocks.
The plan has been for DWAC to merge with Trump Media, providing the former president's fledgling business with capital to expand its operations. But as the merger process dragged on, DWAC returned hundreds of millions of financing commitments to investors.
If the merger is completed, Trump would own nearly 79 million shares in the new business, or as much as 69% of the combined company, a DWAC filing shows. That stake could be worth as much as $3.95 billion based on DWAC's stock price on Thursday.
(Excerpt) Read more at cbsnews.com ...
Hey libtards/Desantards.. President Trump just made 4 Billion Dollars today, so calling him broke is an obvious lie. Plus, you and I know damn well that it’ll be overturned on appeal and he’s not paying a dime of that. But keep dreaming.— 🇺🇸 MAGA Michelle S 🇺🇸 (@MAGAMichelleS69) February 17, 2024
Gee, may his assets were worth more than Judge Larry David said they were.
A demonstrative showing why Trump understands economics and Biden doesn’t.
Biden could never run a real company.
We got him this time?
Meep Meep!
THERE IS A BIG FU TO EDGORON & JAMES
I’m sure the thieves are working on stealing that from him too.
Can’t the Stormy Daniels judge award her a $4billion judgement?
LoL LoL! Sometimes God DOES intervene.
....... And .... The Democommies will get a hard-on to find a way .... Constitutional of Not .... to confiscate any profits from this merger because .... You Know ..... "Trump Bad" "Bad Trump Evil Insurrectionist" "Bad Trump Must Pay"
.
It sure is. Timing is everything. James must be p***** to the hilt.
Just wondering. Can Trump move his businesses out of New York...like Musk moved his out of Delaware?
Shareholders have to vote on the deal yet. Hmmmmmm
LOLOLOLOLOLOL!!!!!!!!! LOve our President and this photo!!
Unless it was organized crime or an extortion business. He does that quite well.
:) Seemed like a proper pic for this thread.
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