(NewsGlobal.com)- Trump Media & Technology Group Corp (TMTG) intends to merge with Digital World, and the transaction is scheduled to be finalized by the end of the year.
According to a report by Reuters, Digital World Acquisitions Corp. announced on Monday that members of its board of directors had received subpoenas from federal prosecutors in connection with the company’s ambitions to combine with the social media corporation owned by former President Donald Trump.
Trump Media & Technology Group Corp (TMTG) intends to merge with Digital World, and the transaction is scheduled to be finalized by the end of the year.
After it became public knowledge that subpoenas had been served on all seven directors of the company’s board, the premarket value of the company’s stock dropped by 6%. A document reveals that a subpoena from a grand jury was delivered to the corporation on June 24. The business said earlier this month that further information on the merger had been requested by both the US Securities and Exchange Commission (SEC) and the Financial Industry Regulatory Authority.
According to a report by Reuters, “the most recent subpoenas to Digital World sought the same documents as the SEC probe as well as requests relating to the company’s S-1 filings.
The mission of TMTG is to restore the American people’s constitutionally protected right to free expression, “according to a statement released by Trump Media & Technology Group on Monday.
They said their crew puts in long hours daily to ensure that Truth Social can continue its rapid expansion, welcome new members, and develop further services. They favor monitoring that bolsters the SEC’s essential role of protecting retail investors and will assist those conducting such oversight.
After Trump said that Truth Social had the highest day ever for new signups on Friday, SPAC Digital World Acquisition (NASDAQ: DWAC) shot up. DWAC is bringing Trump’s social media firm public.
Amazing things are happening swiftly, according to a post by Trump on Truth Social. The post was being sent around by traders, which created buyer enthusiasm.
Trump’s name is often gold, if not sabotaged by the left.