Digital World Acquisition Corp. released an updated filing with the Securities and Exchange Commission regarding its merger plans with Trump Media and Technology Group, the social media company spearheaded by former President Donald Trump. The update addresses new risk factors stemming from a recent New York civil fraud ruling against Trump.
New Risk Factors Highlighted
Following the ruling, which included a hefty $364 million penalty and a three-year ban on Trump’s involvement in New York state business operations, Digital World Acquisition Corp. has emphasized potential challenges in moving forward with the merger. The company expressed concern over the resources and tactics of those opposing President Trump, warning that these factors could lead to delays or even derail the business combination.
Uncertainties Ahead
The uncertainty surrounding the claims against Trump Media and Digital World, coupled with external influences aimed at impeding the merger, raises questions about the future completion of the deal. Digital World Acquisition Corp. remains vigilant in navigating these risks and ensuring the viability of the merger with Trump Media.