Truth Social Merger Deal Appears To Have Fallen Apart

Reuters reports:

Digital World Acquisition Corp, the SPAC that plans to merge with former U.S. President Donald Trump’s media and technology company, said this week it would return to investors $533 million raised for the deal, after some have already backtracked on $467 million of commitments.

The development means the end of the so-called private investment in public equity (PIPE) transaction that would have delivered Trump Media & Technology Group (TMTG), the operator of Trump’s Truth Social platform, $1 billion as part of its merger with Digital World.

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