{"id":1657395,"date":"2022-09-25T19:04:49","date_gmt":"2022-09-25T23:04:49","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1657395"},"modified":"2022-09-25T19:05:01","modified_gmt":"2022-09-25T23:05:01","slug":"company-seeking-merger-with-trump-firm-may-lose-over-138-million-worth-of-investments","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/company-seeking-merger-with-trump-firm-may-lose-over-138-million-worth-of-investments\/","title":{"rendered":"Company Seeking Merger With Trump Firm May Lose Over $138 Million Worth Of Investments"},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"&quot;\"><div class=\"counts mashsbcount\">28<\/div><span class=\"mashsb-sharetext\">SHARES<\/span><\/div><div class=\"mashsb-buttons\"><a class=\"mashicon-facebook mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/www.facebook.com\/sharer.php?u=https%3A%2F%2Fwww.conservativenewsdaily.net%2Fbreaking-news%2Fcompany-seeking-merger-with-trump-firm-may-lose-over-138-million-worth-of-investments%2F\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Facebook<\/span><\/a><a class=\"mashicon-twitter mash-medium mash-nomargin mashsb-noshadow\" href=\"https:\/\/twitter.com\/intent\/tweet?text=&amp;url=https:\/\/www.conservativenewsdaily.net\/breaking-news\/?p=1657395&amp;via=ConservNewsDly\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Twitter<\/span><\/a><a class=\"mashicon-subscribe mash-medium mash-nomargin mashsb-noshadow\" href=\"#\" target=\"_top\" rel=\"nofollow\"><span class=\"icon\"><\/span><span class=\"text\">Subscribe<\/span><\/a><div class=\"onoffswitch2 mash-medium mashsb-noshadow\" style=\"display:none\"><\/div><\/div>\n            <\/div>\n                <div style=\"clear:both\"><\/div><\/aside>\n            <!-- Share buttons by mashshare.net - Version: 4.0.47--><p>Digital World Acquisition, the company aiming to merge with Trump Media &#038; Technology Group (TMTG), owned by former President Donald Trump, is set to lose millions of dollars\u2019 worth of investment from institutional investors, according to the firm\u2019s recent filing with the U.S. Securities and Exchange Commission (SEC).<\/p>\n<p>In October last year, Digital World entered into a merger agreement with TMTG, the parent company of social media platform <a href=\"https:\/\/www.theepochtimes.com\/t-truth-social\">Truth Social<\/a>. On Dec. 4, 2021, Digital World entered into securities purchase agreements (SPA) with certain institutional investors (PIPE), according to which the investors agreed to buy up to an aggregate of 1 million shares of Digital World at a purchase price of $1,000 per share\u2014a commitment valued at $1 billion. The investment was to be consummated \u201cconcurrently with the Business Combination,\u201d the <a href=\"https:\/\/www.sec.gov\/ix?doc=\/Archives\/edgar\/data\/1849635\/000119312522250278\/d384791d8k.htm\">filing<\/a> said.<\/p>\n<p>The PIPE investors would back out from the deal if it was not completed by Sept. 20, 2022. The deadline has passed, and Digital World and TMTG have yet to merge.<\/p>\n<p>\u201cBetween September 19, 2022, and September 23, 2022, Digital World received termination notices from PIPE Investors representing approximately $138.5 million of the PIPE,\u201d according to the filing.<\/p>\n<p>Digital World\u2019s share prices have fallen drastically this year. After peaking at around $110 in March, the company\u2019s share is presently trading at around $18.81 as of Sept. 23\u2014a decline of nearly 83 percent.<\/p>\n<p>Over the last month, the share value has dropped by around 44 percent.<\/p>\n<p> \u2018Inexcusable Obstruction\u2019 <\/p>\n<p>The proposed merger between Digital World and TMTG is facing challenges due to multiple investigations from federal regulators.<\/p>\n<p>In late October and early November, the Financial Industry Regulatory Authority (FINRA) asked Digital World for a review of trading activities prior to the merger announcement.<\/p>\n<p>An <a href=\"https:\/\/www.reuters.com\/business\/media-telecom\/spac-tied-trumps-social-media-venture-receives-us-regulatory-inquiries-2021-12-06\/\">analysis<\/a> by Reuters reported unusual trading activity on Oct. 20 just before the deal was announced<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digital World Acquisition, the company aiming to merge with Trump Media &#038; Technology Group (TMTG), owned by former President Donald Trump, is set to lose millions of dollars\u2019 worth of investment from institutional investors, according to the firm\u2019s recent filing with the U.S. Securities and Exchange Commission (SEC). In October last year, Digital World entered [\u2026]<\/p>\n","protected":false},"author":186,"featured_media":2315279,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"","fifu_image_alt":"","footnotes":""},"categories":[],"tags":[],"class_list":["post-1657395","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry"],"_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1657395","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/users\/186"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1657395"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1657395\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2315279"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1657395"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1657395"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1657395"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}