Trump’s Truth Social Merger Deal on Life-Support as Big-Cash Partner Delays Vote

Truth Social’s hopes for a much-needed cash-infusion suffered a setback Thursday after the founders of a blank-check company were again forced to delay a vote on extending a merger agreement with Donald Trump’s site.

The founders of Digital World, a special purpose acquisitions company, instead ponied up an additional $3 million to prevent the company from dissolving for three months. The new vote is slated for Oct. 10.

The SPAC needs 65% of shareholders to agree to extend the deal by a year with the former president’s right-leaning social media site. The two agreed to merge last October, a month after Digital World launched its IPO.

However, the deal has been in limbo after the Securities and Exchange Commission launched a probe late last year into whether Digital World’s founders possibly had advance knowledge of what it was buying before listing its shares — a violation of securities laws.

Digital World CEO Patrick Orlando raised the $3 million from outside investors in exchange for options in the company that would come good if the merger with Truth Social goes through, sources said. (Read more from “Trump’s Truth Social Merger Deal on Life-Support as Big-Cash Partner Delays Vote” HERE)

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