Trump Media and Technology Group’s planned $300 million merger with the financial fund Digital World Acquisition Corp. faces a September 8th deadline to close the merger or the deal, like everything else Donald Trump touches, dies.
Per the Washington Post, DWAC has asked its shareholders for one more extension for the deal, which was originally supposed to wrap up within 12 to 18 months of the July 2021 announcement. The merger would inject hundreds of millions of dollars into Trump’s Truth Social platform, which has been struggling to find users and advertisers, stuck with just MAGAts and Trump.
The deal has been delayed because of a number of investigations into DWAC, including accusations of a board member’s insider trading, the dismissal of the group’s CEO, and a $18 million fine from the SEC for giving false information to investors and the agency. The current management will make a pitch on September 6th to secure the support it needs to extend the deadline.