Digital World seeks delay on merger with Trump’s social media amid probes


Digital World Acquisition Corp, the blank-check company taking former US President Donald Trump’s Truth Social app public, on Friday announced a special meeting of shareholders to approve an extension to the cut-off date to complete the merger.

“While we are using our best efforts to complete the Business Combination as soon as practicable, our board of directors believes that there will not be sufficient time before the Termination Date to complete the Business Combination,” Digital World said in a SEC filing.

The termination date to complete the merger is Sept. 8, 2022. Digital World is seeking to extend the date by 12 months.

The announcement comes amid probes by US regulators over the proposed merger.

Digital World said in June its board of directors had received subpoenas from a Federal grand jury in the Southern District of New York, while the US Securities and Exchange Commision and the Financial Industry Regulatory Authority had also made requests for additional information on the deal.

Trump Media & Technology Group Corp, the creator of Truth Social, in October agreed to merge with Digital World and was expecting the deal to close by the second half of this year.


Close Story

Digital World seeks delay on merger with Trump's social media amid probes

Less time to read?

Try Quickreads

Digital World seeks delay on merger with Trump's social media amid probes

  • Cars are stuck in mud and debris from flash flooding at The Inn at Death Valley in Death Valley National Park, Calif., Friday, Aug. 5, 2022.

    Flash floods strand 1,000 people in Death Valley National Park

    Flash flooding at Death Valley National Park triggered by heavy rainfall on Friday buried cars, forced officials to close all roads in and out the park and stranded about 1,000 people, officials said The park near the California-Nevada state line received at least 1.7 inches (4.3 centimeters) of rain at the Furnace Creek area, which park officials in a statement said represented “nearly an entire year’s worth of rain in one morning.”

  • File photo of radio show host Alex Jones

    US conspiracy theorist Alex Jones told to pay extra $45 mn in punitive damages

    A Texas jury on Friday ordered Alex Jones to pay $45.2 million in punitive damages to the parents of a Sandy Hook shooting victim, a day after he was ordered to pay $4.1 million in actual damages for claiming that the school shooting was a hoax. Their six-year-old, Jesse Lewis, was killed in the shooting. Friday’s unanimous ruling closes the two-week trial in Travis County, Texas.

  • China can lower tensions over Taiwan by ending ‘provocative’ drills: US

    China can lower tensions over Taiwan by ending ‘provocative’ drills: US

    The United States condemned China on Friday for cutting off bilateral cooperation in a number of key areas, and said Beijing can ease tensions over Taiwan by ending its “provocative” military drills. National Security Council spokesman John Kirby said that China’s decision to halt engagement on climate change and other issues was “fundamentally irresponsible. They think they’re punishing us by shutting down this channel,” Kirby told reporters.

  • A serviceman with a Russian flag on his uniform stands guard near the Zaporizhzhia Nuclear Power Plant in the course of Ukraine-Russia conflict outside the Russian-controlled city of Enerhodar in the Zaporizhzhia region.

    Kyiv accuses Russians of strikes on Zaporizhzhia nuclear plant site

    Ukraine on Friday accused Russian forces of strikes near a nuclear reactor at the Zaporizhzhia power plant in the country’s southeast, which has been occupied since the early days of the invasion. The global nuclear watchdog IAEA has been trying for weeks to send a team to inspect the plant. The Zaporizhzhia plant in southeast Ukraine is the largest in Europe.

  • The blast was claimed by the Sunni jihadist Islamic State, which has regularly targeted the Shiite community in Afghanistan.

    Bomb kills 8 in Shiite area of Afghan capital

    A bomb attached to a handcart exploded in Kabul on Friday, officials said, killing eight civilians in an area largely inhabited by Afghanistan’s minority Shiite Muslim community. The blast, which took place when Shiites in Afghanistan are commemorating the first 10 days of the Muslim holy month of Muharram, also injured 18 people, police spokesman Khalid Zadran said in a statement to reporters. “Security teams are trying to find the perpetrators,” Zadran said.