{"id":1979939,"date":"2023-07-21T19:32:02","date_gmt":"2023-07-21T23:32:02","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/company-agrees-to-pay-18-million-amid-merger-with-trumps-truth-social\/"},"modified":"2023-07-21T19:33:25","modified_gmt":"2023-07-21T23:33:25","slug":"company-agrees-to-pay-18-million-amid-merger-with-trumps-truth-social","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/company-agrees-to-pay-18-million-amid-merger-with-trumps-truth-social\/","title":{"rendered":"Company to pay $18M in merger with Trump&#8217;s Truth Social."},"content":{"rendered":"<aside class=\"mashsb-container mashsb-main mashsb-stretched\"><div class=\"mashsb-box\"><div class=\"mashsb-count mash-medium\" style=\"float:left\"><div class=\"counts mashsbcount\">20<\/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-agrees-to-pay-18-million-amid-merger-with-trumps-truth-social%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=1979939&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--><h2>Digit World Acquisition\u2062 Company to Pay $18 \u200bMillion Fine Imposed by\u200b SEC<\/h2>\n<p>Digit World Acquisition Company (DWAC), the &#8220;blank check&#8221; company that played a role in \u2063funding Trump Media and Technology Group (TMTG), has\u200c agreed to \u200bpay an $18 million fine \u200dimposed \u200dby\u2064 the Securities and Exchange Commission\u200c (SEC). This comes after\u200c an investigation \u2064by the \u200cSEC that began in December 2021. \u2064 <\/p>\n<p>DWAC claimed to \u2064have raised $300 million for\u2064 TMTG, the parent company of Truth Social, and\u200c had plans to merge \u2062with the company. However, the SEC\u2063 found that DWAC\u200d failed to disclose \u2064its\u2062 discussions\u200d with\u200d TMTG\u200b and a material \u2062conflict of\u2063 interest involving its CEO and Chairman. These disclosure failures are particularly concerning in\u2064 the context of a SPAC, as investors heavily \u2063consider factors such as\u200c the management team and <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/company-agrees-to-pay-18-million-amid-merger-with-trumps-truth-social\/\" title=\"Company to pay M in merger with Trump's Truth Social.\">potential merger targets<\/a> when\u200d <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/student-loan-cancellation-could-set-precedent-for-federal-education-entitlements\/\" title=\"Student Loan Cancellation Could Set Precedent For Federal Education Entitlements\">making financial decisions<\/a>.<\/p>\n<p>Following \u200bthe release of the\u2064 SEC investigation filing, DWAC stock dropped 14%,\u2063 according\u2063 to Seeking\u2063 Alpha. \u2063However, the stock \u200dhas \u200dsince rebounded, increasing from a little \u200dover $13 on Thursday to \u2062roughly $20 on Friday, the day after the fine was announced.<\/p>\n<h3>Senate \u2063Committee to Consider Advancing Bipartisan Children&#8217;s Online Safety Bill<\/h3>\n<p>The Senate Committee is set to discuss advancing a \u200c<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sen-cornyn-booed-at-state-gop-convention-for-negotiating-bipartisan-gun-control-bill\/\" title=\"Sen. Cornyn Booed at State GOP Convention for Negotiating \"Bipartisan\" Gun Control Bill\">bipartisan bill focused<\/a> \u2063on children&#8217;s \u2062online \u200dsafety. This <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/gop-legislative-push-seeks-to-stop-biden-admin-from-unraveling-iran-sanctions\/\" title=\"GOP Legislative Push Seeks to Stop Biden Admin from Unraveling Iran Sanctions\">bill aims<\/a> to address\u2063 the growing\u200d concerns surrounding the safety of children in the digital\u200d world.<\/p>\n<p>Former President Donald Trump, despite being reinstated on Twitter, remains active on \u2062Truth Social, where he \u2064has amassed over 5 million followers.<\/p>\n<p>In response\u2064 to the rise of Truth \u200dSocial, Meta, the parent company of Facebook and Instagram, has announced\u2063 its own platform called Threads. Threads is \u200cdesigned \u2062to \u2062compete with both Twitter\u200c and Truth Social. In its \u200cfirst few days\u200c of launch,\u200c Threads has already gained 70 million new\u2064 users.<\/p>\n<p><strong>Click here to read more from The Washington Examiner.<\/strong><\/p>\n","protected":false},"excerpt":{"rendered":"<p>Digit World Acquisition Company has agreed to pay an $18 million fine imposed by the SEC. The &#8220;blank check&#8221; firm, which aided Trump Media and Technology Group, has been under SEC investigation since December 2021. It asserted to have raised $300 million for TMTG, its parent company.<\/p>\n","protected":false},"author":1,"featured_media":1979940,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","fifu_image_alt":"","footnotes":""},"categories":[538],"tags":[],"class_list":["post-1979939","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-washington-examiner"],"fifu_image_url":"https:\/\/cndimages.nyc3.digitaloceanspaces.com\/breaking-news\/wp-content\/uploads\/2021\/01\/IMG_2758-scaled-1.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1979939","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\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=1979939"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/1979939\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/1979940"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=1979939"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=1979939"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=1979939"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}