Truth Social Faces Deadline That May Sink Platform

The Washington Post reports:

When former president Donald Trump’s media start-up announced in October 2021 that it planned to merge with a Miami-based company called Digital World Acquisition, the deal was an instant stock-market hit.

Now, almost two years later, the deal faces what could be a catastrophic threat. With the merger stalled for months, Digital World is fast approaching a Sept. 8 deadline for the merger to close and has scheduled a shareholder meeting for Tuesday in hopes of getting enough votes to extend the deadline another year.

If the vote fails, Digital World will be required by law to liquidate and return $300 million to its shareholders, leaving Trump’s company with nothing from the transaction.

Read the full article. Trump Media is suing the Washington Post for its previous reporting on Truth Social and they have reacted to today’s article in its standard “fake news” fashion.

It appears that Truth Social may be about to join the very lengthy list of failed Trump business ventures with investors losing their money. Again. https://t.co/dEq7Jlggfl

— Ron Filipkowski (@RonFilipkowski) September 2, 2023