TRUTH SOCIAL #PRAVDASOCIAL & Trump Media & Technology Group (TMTG) NASDAQ:DJT - SPAC Digital World Acquisition Corp

[northland10]

I have wondered for some time if some of his business arrangements such as Truth (oh, and hosting the non-PGA gigs) might have been a conduit for sending foreign dollars his way (I'm looking at you Saudis) in order to get him in office again, and ensure he is pliable.

[noblepa]

I've lost track. Has Digital World made any progress in completing their purchase of Truth Social? I really don't understand what the holdup is. They claim that they have the money.

The last thing I heard was several months ago that the investors granted the company another year to close the deal.

[RTH10260]

I've lost track. Has Digital World made any progress in completing their purchase of Truth Social? I really don't understand what the holdup is. They claim that they have the money.

The last thing I heard was several months ago that the investors granted the company another year to close the deal.

I understand that DWAC is prohibited from making the merger until their legal issues are resolved. And the minimal holding time for shareholders expired last September, when a number of larger investors asked that their funds be returned. Rather than dissolving the shareholders voted to prolong the agony until Sept 2024. My guess is that this merger no longer will happen.

[raison de arizona]

I’m astonished!

Oh wait.

Isn’t this par for the tfg course?

[noblepa]

I've lost track. Has Digital World made any progress in completing their purchase of Truth Social? I really don't understand what the holdup is. They claim that they have the money.

The last thing I heard was several months ago that the investors granted the company another year to close the deal.

I understand that DWAC is prohibited from making the merger until their legal issues are resolved. And the minimal holding time for shareholders expired last September, when a number of larger investors asked that their funds be returned. Rather than dissolving the shareholders voted to prolong the agony until Sept 2024. My guess is that this merger no longer will happen.

I read somewhere, a few months ago, that Truth Social has lost something like $75M.

Will tfg keep it afloat, at that rate of loss, if the merger finally falls through?

[RTH10260]

A fresh longer article

Truth Social Could Still Make Trump Billions — If He Wins

Portrait of Matt Stieb By Matt Stieb, Intelligencer staff writer
Feb. 3, 2024

As long as two major civil-court rulings hold up to appeal, Donald Trump is about to lose a lot of money. Last month, the former president was ordered to pay $83.3 million to E. Jean Carroll in a defamation suit. Later this month, the Trump Organization could pay up to $370 million in penalties for years of inflating his net worth and other acts of business fraud. The former president is still extremely asset rich, but the next year would be a great time for him to come into some easy money.

There’s a chance that such a windfall could come from an unlikely place: Truth Social.




https://nymag.com/intelligencer/2024/02 ... -wins.html

[RTH10260]

Trump Truth Social SPAC partner stock soars after Iowa caucus victory

Published Tue, Jan 16 20241:30 PM ESTUpdated Tue, Jan 16 20244:14 PM EST
Ryan Anastasio

Key Points
Shares of Digital World Acquisition soared about 30% Tuesday after former President Donald Trump won the Iowa caucuses.
The company is scheduled to merge with Trump Media & Technology Group, the operator of the social media platform Truth Social.
Digital World Acquisition has been volatile since its 2021 IPO and is up about 80% from its 52-week low.

Shares of Digital World Acquisition soared about 30% Tuesday, following former President Donald Trump’s landslide victory in the Iowa caucuses.

The blank check company is scheduled to merge later this year with Trump Media & Technology Group, the operator of the social media platform Truth Social.

Digital World Acquisition extended a deadline for the fourth time last year to merge with the Trump social media platform.

Truth Social has struggled to gain traction since its launch in 2022. Its parent company, headed by former Rep. Devin Nunes, has lost more than $30 million since its founding in 2021.

It has also faced challenges growing its user base beyond Trump and his loyal supporters, and it has less than 5% of the monthly visits of its rival X, formerly known as Twitter, according to website data tracking firm Similarweb.

Still, Trump has remained active on the site, even after X reinstated his account last year.



https://www.cnbc.com/2024/01/16/trump-t ... ctory.html

[RTH10260]

I read somewhere, a few months ago, that Truth Social has lost something like $75M.

Will tfg keep it afloat, at that rate of loss, if the merger finally falls through?

a year ago - 16 Apr 2023 — Truth Social, which is reportedly valued between $5m and $25m, in https://www.independent.co.uk/news/worl ... 20630.html

[Uninformed]

“SEC clears Trump's social media deal worth as much as $10 billion”:
https://www.reuters.com/markets/deals/d ... 024-02-15/

“Feb 15 (Reuters) - The U.S. Securities and Exchange Commission allowed Donald Trump's media and technology company to merge with a blank-check acquisition vehicle in a deal that currently values the parent of his social media app Truth Social at as much as $10 billion.”

[RTH10260]

Just in time for him to drain the freshly merged group for his pending fines

I wonder what dirty trick Joe Biden and the Deep State are pushing here? Does Soros have his fingers in this deal?

[Suranis]

Ok... who in their right mind has "valued" this thing at 10 billion, and who the hell oked this merger?

Its going to fall in value faster than an NFT. Donald Turnip has a 90% stake in Truth Social, and the first thing he will do is dump the shares for money. Remember when he was demanding people give up their shares to give to Melania and the Spawn?

[RTH10260]

Exclusive: Trump's media deal partner nears $50 million financing -sources

By Anirban Sen
February 8, 202410:20 PM GMT+1Updated 9 days ago


Feb 8 (Reuters) - Digital World Acquisition Corp (DWAC.O), the blank-check acquisition company that has agreed to take former U.S. President Donald Trump's social media platform public, is nearing a $50 million financing deal, people familiar with the matter said on Thursday.

The deal, which could be announced in the next few days, is based on convertible notes and will help fund DWAC while it tries to complete its merger with Trump Media & Technology Group (TMTG), owner of social media platform Truth Social, the sources said.

DWAC shares ended trading on Thursday up 4.4% at $47.66 on the news. They are up almost threefold since Jan. 15 -- when Trump won the Iowa caucus on his way to the Republican nomination for president -- as investors bet that his re-emergence as a major political figure will make Truth Social more valuable.



https://www.reuters.com/markets/deals/t ... 024-02-08/

[RTH10260]

I lack the insight why the win of the primary election in a state ought to have an effect on the company that plans a merger with a social media platform. Any answers?

[Tiredretiredlawyer]

If the merger takes place, tfg will have stocks for Tish to put liens on and perhaps some cash to seize.

[Flatpoint High]

If the merger takes place, tfg will have stocks for Tish to put liens on and perhaps some cash to seize.

that-2.png (180.52 KiB) Viewed 491 times

[Suranis]

Could they nab his Truth Social stocks as assets to spare him the inconvenience of paying up?

[johnpcapitalist]

In a footnote to the Truth Social story, does anyone remember "Gettr," which was supposed to be another one of those "free speech" platforms that wouldn't discriminate against poor, persecuted conservatives? Yeah, me neither. Well, it looks like it's going down the tubes.

Mother Jones has the details: https://www.motherjones.com/politics/20 ... o-layoffs/

[raison de arizona]

Gettr is (was?) Jason Miller.

[neonzx]

I don't recall Gettr.. and since it is dying/dead?, I won't need to remember it.

[Dr. Ken]

In a footnote to the Truth Social story, does anyone remember "Gettr," which was supposed to be another one of those "free speech" platforms that wouldn't discriminate against poor, persecuted conservatives? Yeah, me neither. Well, it looks like it's going down the tubes.

Mother Jones has the details: https://www.motherjones.com/politics/20 ... o-layoffs/

I still remember parler and that birther Facebook knockoff

[raison de arizona]

tfg trying to enrich his family and rip off shareholders? What a surprise!

Trump Media co-founders sue company, alleging a scheme to dilute shares

The case could complicate a long-delayed bid by the owner of Truth Social to go public — and deliver former president Donald Trump a financial lifeline

The co-founders of former president Donald Trump’s media company filed a lawsuit Wednesday, claiming that Trump and other leaders had schemed to deprive them of a stake in the company that could be worth hundreds of millions of dollars.

The filing said that Trump was set to receive 78 million shares in the post-merger company — a stake worth $3.5 billion at today’s share price — and that UAV would receive more than 7 million shares, a stake worth about $339 million. “Throughout TMTG’s corporate history,” the motion states, “UAV’s 8.6 percent ownership interest has been recognized and honored.”


But UAV’s attorneys allege in the motion that Trump has recently attempted to “drastically dilute” the partnership’s stake as part of what they called an “11th hour, pre-merger corporate maneuvering” tactic designed to increase the amount of authorized stock, from 120 million shares to 1 billion shares.

UAV’s attorneys wrote that the “dilution scheme” had “no legitimate business purpose” and suggested that Trump and the Trump Media board planned to issue the new shares to “Trump and/or his associates and children,” watering down UAV’s stake to less than 1 percent.


UAV was “promised 8.6 percent of this company and sadly its business partners are baselessly trying to renege,” said the partnership’s lead attorney, Christopher J. Clark of Clark Smith Villazor, in an interview with The Washington Post describing the lawsuit. “They feel like: We made Truth Social for you. You get 90 percent. But some people just aren’t happy with 90 percent.”

https://www.washingtonpost.com/technolo ... -founders/

[Slim Cognito]

Yeah, that's a big surprise.

[Uninformed]

Basically explaining how Truth Social share sale could earn tfg billions before judgements take effect.

[raison de arizona]

Perhaps a bit breathlessly overblown, but still. He couldn’t leave well enough alone and had to push it.
https://x.com/tristansnell/status/1763398752398725307

BREAKING: Trump SUED by Truth Social co-founders, who accuse him of manipulating stock to reduce their stake in company by over $50 million.

Serious securities lawsuit in Delaware that threatens to derail the Truth Social deal that was supposed to be Trump’s financial lifeline.

[RTH10260]

I guess those are the founders he originally tried to pressure and "donate" their shares to Melania