As usual, everything #45 touches turns to shit.
"NEW YORK (Reuters) - Digital World Acquisition Corp (DWAC), the blank-check acquisition company that plans to merge with former U.S. President Donald Trump's social media firm, said on Thursday it would return to investors $533 million raised for a cash
infusion in the deal, after some already backtracked on another $467 million of commitments.
The development is the nail in the coffin of the $1 billion investment that DWAC had raised for the merger with Trump Media & Technology Group (TMTG), which runs the Truth Social platform. It raises further doubts about whether the former U.S. president
will go ahead with the deal, now that TMTG no longer stands to receive $1 billion if and when it closes."
"Shares of Digital World were trading at $15.70 on Thursday, down .98% on the day and down from a peak of around $97 a share in March, 2022."
https://news.yahoo.com/spac-returns-remaining-533-million-163027280.html
I'd be willing to bet that the only money the donald lost on this deal was the money he didn't get. That's the "art of the deal." "Never give a sucker and even break."
TB
--- SoupGate-Win32 v1.05
* Origin: fsxNet Usenet Gateway (21:1/5)