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Truth Social in serious trouble as merger vote fails

Trump-founded Twitter clone Truth Social is in deep shit as Digital World Acquisition Corp, the publicly-traded shell company attempting to merge with the platform’s parent, the Trump Media and Technology Group, failed to get enough shareholders to vote in favor of extending the deadline for the deal – currently held up by SEC and Justice Department investigations into all sorts of fuckery – to be completed, Reuters reports. The problem is not that the shareholders voted against the merger so much as they didn’t vote at all. Without an extension on the deal’s deadline, DWAC will dissolve on Thursday and the shareholders will be automatically refunded the remaining value of their positions. It’s not clear how difficult an extension would be to pull off, but should DWAC cease to exist, Truth would be cut off from the $1.3 billion in funding it is counting on to survive.

Created by potrace 1.16, written by Peter Selinger 2001-2019

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