{"id":2180323,"date":"2024-02-19T21:26:05","date_gmt":"2024-02-20T02:26:05","guid":{"rendered":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sec-approves-trumps-truth-social-deal-worth-up-to-10b\/"},"modified":"2024-02-19T21:27:31","modified_gmt":"2024-02-20T02:27:31","slug":"sec-approves-trumps-truth-social-deal-worth-up-to-10b","status":"publish","type":"post","link":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/sec-approves-trumps-truth-social-deal-worth-up-to-10b\/","title":{"rendered":"SEC Approves $10B Truth Social Deal for Trump"},"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\">16<\/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%2Fsec-approves-trumps-truth-social-deal-worth-up-to-10b%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=2180323&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><!DOCTYPE html PUBLIC \"-\/\/W3C\/\/DTD HTML 4.0 Transitional\/\/EN\" \"http:\/\/www.w3.org\/TR\/REC-html40\/loose.dtd\"><br \/>\n<?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><?xml encoding=\"utf-8\" ?><html><body><\/p>\n<div class=\"entry-content\">\n<figure class=\"wp-block-image size-large\"><figcaption class=\"wp-element-caption\">This photo illustration shows an image of former President Donald Trump reflected in a phone \u200dscreen that is displaying the Truth Social app, in Washington,\u2064 DC, on February 21, \u200d2022. \u2013 Donald Trump\u2019s\u200c new social media app started a gradual rollout late February \u206221st and should be \u201cfully operational\u201d by late March, potentially raising the former president\u2019s profile more than a year after he was banned by major platforms.\u2063 (Photo by Stefani Reynolds \/ AFP)\u2062 (Photo \u200cby STEFANI REYNOLDS\/AFP via Getty Images)<\/figcaption><\/figure>\n<p>OAN\u2019s <a href=\"https:\/\/www.oann.com\/tag\/elizabeth-volberding\">Elizabeth Volberding<br \/><\/a>6:00 PM \u2013 Monday, February\u2063 19,\u2062 2024<\/p>\n<p>The United States Securities and Exchange Commission\u2063 (SEC) approved former President Donald Trump\u2019s social media \u2063platform, Truth Social, to merge with a blank-check company called \u2062Digital World Acquisition Corporation.<\/p>\n<div id=\"div-gpt-ad-1663871513696-art-3\" style=\"min-width: 320px; min-height: 50px; text-align: center;\">  \t<script>  \t\tgoogletag.cmd.push(function() { googletag.display('div-gpt-ad-1663871513696-art-3'); });  \t<\/script>  <\/div>\n<div class=\"ad-slot__ad-label\">Advertisement<\/div>\n<\/p>\n<p>After two years of delays due to a thorough investigation by regulators, the SEC has finally approved\u200c a contentious merger that\u2062 will \u200bsoon reportedly launch on Wall Street under Donald Trump\u2019s Truth Social\u2064 platform.<\/p>\n<p>The Trump Media &#038; Technology Group, the company that owns Truth Social, and Digital World Acquisition Corporation \u2062(DWAC), which is a\u2062 Special Purpose Acquisition Company \u2062(SPAC) that intends to take the company public, has received approval from the SEC to merge. <\/p>\n<p>Therefore, this may give Trump a substantial\u2062 ownership position in the business. <a href=\"https:\/\/www.sec.gov\/Archives\/edgar\/data\/1849635\/000119312524036093\/d408563ds4a.htm\" target=\"_blank\" rel=\"noreferrer noopener\">According to new SEC filings<\/a>,\u2063 Trump is expected to own about $79 million shares of \u200bthe business.<\/p>\n<p>As of Friday morning, DWAC shares were trading for slightly more than $49.50, making that stake worth approximately $4 billion. <\/p>\n<p>It emphasized how some investors, many \u200bof whom are Trump supporters, are overlooking Truth Social\u2019s losses \u2062and small \u2063user base as \u2062a result of Trump\u2019s involvement. The stock market has increased the deal\u2019s value by\u2062 over \u2064three times since January as Trump has solidified his hold on the 2024 Republican nomination.<\/p>\n<p>Depending on how much support the deal receives from investors, Trump\u2019s\u2064 ownership stake in the combined company will reportedly range from 58.1% to 69.4%.<\/p>\n<p>Depending on how his presidential campaign plays out, Trump could even sell his interest in Truth Social and \u200bstep away from its management,\u2062 according to a regulatory \u200dfiling on Wednesday from DWAC.<\/p>\n<p>The SEC approved the filing, which included new details about the operations of Trump Media &#038; Technology Group, the parent company\u200d of Truth Social. \u200dThis allowed DWAC to organize a shareholder vote to approve and finalize the merger.<\/p>\n<p>The shares of DWAC increased 16% to\u2064 $50.49 during Thursday\u2019s \u200cafternoon trading in New \u200cYork. <\/p>\n<p>Given the current stock price and the assumption that no shareholders of DWAC would exercise their right to redeem their shares, the\u200d combined \u200bcompany would \u2063be valued at approximately $10 billion,\u200d of which Trump would own 58.1%, or roughly $4 billion.<\/p>\n<p>However, approval from the\u200b SEC has\u2063 been a long journey. <\/p>\n<p>In June 2022, DWAC stated that more documents and details regarding the proposed merger were being looked over by security regulators. \u200bAuthorities were particularly interested in \u201ccommunications regarding and due diligence of potential targets other than [Trump\u2019s company].\u201d<\/p>\n<p>Trump essentially has unlimited authority at DWAC due\u2062 to his agreement with the company. A prior filing highlighted that no personal \u200cor political action could be \u200dtaken into consideration in terms of a breach of the\u2062 agreement, even if it \u2063was \u201cdishonest, illegal,\u2064 immoral, \u200bor unethical.\u201d <\/p>\n<p>In addition, Trump will be able to choose the members of the board of directors and possibly obstruct actions that would\u2064 typically need the consent of stockholders, such as the company\u2019s acquisition.<\/p>\n<p>Currently, Trump has 6.62 million followers on Truth Social.<\/p>\n<p>Stay informed! Receive breaking\u200d news blasts directly to your inbox for free. Subscribe here. <a href=\"https:\/\/www.oann.com\/alerts\">https:\/\/www.oann.com\/alerts<\/a><\/p>\n<\/p>\n<div id=\"rc-widget-10bad2\" data-rc-widget data-widget-host=\"habitat\" data-endpoint=\"\/\/trends.revcontent.com\" data-widget-id=\"278641\"><\/div>\n<p class=\"dpsp-share-text\" style=\"margin-bottom:10px\"> \t\t \t\tShare this \u2062post!\t<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Truckers threaten to stop serving New York\u2064 City after the Trump Civil Case ruling, Joe Biden moves to phase out 67% of gas\u2064 cars and a non-citizens joins\u200d SF\u2019s Elections Commission.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The South Carolina primary is this Saturday and polls show Trump \u2063is a significant favorite to win the state comfortably. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>The \u2063U.S. Army\u2019s support for Ukraine is beginning to take a toll on the budget for other \u200boperations as tensions rise around the world.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>A \u200chouse fire in\u200d Virginia\u200d kills one and injures 12 others. <\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>A group \u200bof 20 tech \u2064companies announced they will work together to prevent deceptive AI content from interfering with elections.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>OpenAI\u200c is working on a software that can <a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/report-cut-throat-venezuelan-gangs-recruiting-from-migrant-shelters\/\" title=\"Venezuelan gangs recruit from migrant shelters, report says\">generate minute-long videos based<\/a> on text prompts.<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Activision Blizzard has been hit with a U.S. lawsuit claiming it \u2062restricts competition for organized gaming involving \u201cCall of Duty.\u201d<\/p>\n<\/p><\/div>\n<div class=\"entry-content\">\n<p>Amazon.com\u00a0has joined SpaceX\u200b and\u2064 Trader Joe\u2019s in\u2064 claiming that a U.S.\u200b labor agency\u2019s in<a href=\"https:\/\/www.conservativenewsdaily.net\/breaking-news\/call-of-duty-gamers-sue-activision-for-monopolizing-leagues-tournaments\/\" title=\"Call of Duty' gamers sue Activision over league and tournament monopolization\">-house enforcement proceedings violate<\/a> the U.S. Constitution.<\/p>\n<\/p><\/div>\n<p> rnrn  <\/p>\n<h2> \u200bHow \u200chas\u2063 the deal&#8217;s\u2063 value changed since January and what factors have contributed\u2064 to this increase?<\/h2>\n<p><span>  \u200d The United States Securities and \u200dExchange Commission (SEC) has approved the merger of former President Donald Trump&#8217;s social media\u200c platform, \u2063Truth Social, with a \u200bblank-check company called Digital World Acquisition Corporation. This \u200bapproval comes after two years of delays\u2064 and a \u200dthorough investigation by\u2064 regulators.<\/p>\n<p>The Trump Media &#038; Technology Group, the company \u200bthat owns \u2063Truth Social, \u2064and\u2063 Digital World Acquisition Corporation (DWAC), a Special\u2064 Purpose Acquisition Company, have \u2064received the green light to merge. This merger could\u200b give Trump a significant ownership position \u200din the business. According to new SEC filings, Trump is expected to own approximately \u200b$79 million shares of the\u200d company. With DWAC\u200b shares trading at slightly over $49.50, this\u200d stake is worth approximately \u2062$4 billion.<\/p>\n<p>Despite Truth Social&#8217;s losses and small user base, investors, many of whom are \u2062Trump supporters, have overlooked these factors due to Trump&#8217;s involvement. The\u200b deal&#8217;s \u200dvalue \u200bhas \u2062increased by over three times since January as Trump \u200csolidifies his hold on the 2024 Republican nomination.<\/p>\n<p>Depending \u2064on\u200c the\u2062 support the \u200ddeal receives\u200d from \u200cinvestors, Trump&#8217;s ownership stake in the combined \u2064company could range from 58.1% to 69.4%. However, depending\u200b on the outcome of\u200b his presidential campaign, Trump may choose to sell his interest \u2064in Truth Social\u200d and step \u2063away from its management.<\/p>\n<p>The SEC&#8217;s approval of\u200c the filing allows DWAC to \u200dorganize a shareholder \u200dvote to approve and finalize the merger. DWAC\u2064 shares increased by \u200d16%\u2063 during Thursday&#8217;s\u200b afternoon\u200d trading in \u200bNew\u200c York, reaching $50.49.<\/p>\n<p>Given the current stock price and the assumption that no shareholders of DWAC \u2062will \u2062redeem their shares, the combined company would \u2064be valued\u200c at approximately $10 billion, with \u2063Trump owning\u2062 58.1% or roughly $4 billion.<\/p>\n<p>The \u200croad\u2064 to SEC\u2063 approval\u2064 has been a\u200d long one. In June 2022, DWAC\u2064 announced that further\u200b documents and details regarding\u2062 the proposed merger were being \u2063reviewed \u2062by security regulators. Authorities were\u2064 particularly interested in communications and due diligence related to potential targets \u200dother than Trump&#8217;s \u2064company.<\/p>\n<p>Trump&#8217;s agreement\u2063 with DWAC gives him\u200b unlimited authority in the\u200b company. The agreement\u200d states that\u2062 no personal or\u2064 political actions \u200bcould be considered a breach, even if they\u200d are dishonest, illegal, immoral, or unethical. Additionally, Trump will have the \u2064power to choose the\u200c members \u200dof \u200dthe board\u2064 of directors and potentially obstruct certain \u200cactions that would typically \u2064require stockholder \u2064consent.<\/p>\n<p>Overall, the approval\u2064 from the SEC marks a significant milestone for Truth Social\u200d and Donald Trump&#8217;s media and technology group. The merger with DWAC \u2063could pave\u2063 the way for Truth Social&#8217;s launch on Wall\u2063 Street and \u2064potentially increase Trump&#8217;s profile\u200b more than \u200da year after\u2062 being banned by major social\u200c media platforms.<\/p>\n","protected":false},"excerpt":{"rendered":"<p>Expectations for his return to the online world. The Truth Social app, featuring Trump&#8217;s image, was showcased in a photo illustration in Washington, DC. It began its phased release on February 21, 2022, with plans to be fully functional by late March. This development has sparked anticipation for Trump&#8217;s comeback on social media<\/p>\n","protected":false},"author":2368,"featured_media":2180324,"comment_status":"open","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"_mo_disable_npp":"","fifu_image_url":"https:\/\/c3.oann.com\/wp-content\/uploads\/2024\/02\/GettyImages-1238669779-scaled-e1708393191741.jpg","fifu_image_alt":"","footnotes":""},"categories":[542],"tags":[],"class_list":["post-2180323","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-oann"],"fifu_image_url":"https:\/\/c3.oann.com\/wp-content\/uploads\/2024\/02\/GettyImages-1238669779-scaled-e1708393191741.jpg","_links":{"self":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2180323","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\/2368"}],"replies":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/comments?post=2180323"}],"version-history":[{"count":0,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/posts\/2180323\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media\/2180324"}],"wp:attachment":[{"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/media?parent=2180323"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/categories?post=2180323"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.conservativenewsdaily.net\/breaking-news\/wp-json\/wp\/v2\/tags?post=2180323"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}