SEC Probe Lingers As Trump's Social Media SPAC Eyes Deal

By Tom Zanki (May 16, 2022, 9:18 PM EDT) -- The special purpose acquisition company acquiring former President Donald Trump's social media platform said Monday it expects to complete its merger in the second half of 2022, assuming a regulatory investigation into the transaction doesn't derail the deal.

Digital World Acquisition Corp. filed a registration statement Monday notifying investors of its pending merger with Trump's recently launched platform, Truth Social. The company also noted an ongoing U.S. Securities and Exchange Commission investigation that hangs over the transaction.

The SEC is inquiring about what transpired at Digital World's board of directors meeting regarding the merger, how the company evaluated other potential merger...

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