After facing delays, the merger between blank-check company Digital World Acquisition Corp (DWAC) and Trump Media & Technology Group finally received approval from the Securities and Exchange Commission (SEC) last month. This decision sets the stage for Truth Social’s debut on the stock market, potentially resulting in a $3.5 billion windfall for former President Trump.
Trump is expected to earn around $3.5 billion from this deal, as he would control nearly 79 million shares in the merged company. However, this windfall is crucial for Trump as he currently faces challenges in securing a $464 million bond in his New York civil fraud case. With the deadline approaching, Trump’s lawyers have expressed difficulty securing the full bond due to a lack of available cash. Failure to meet this bond requirement could result in the seizure of Trump’s assets, including properties such as the Seven Springs estate and his golf resort.
The potential windfall is significant, although Trump will not be able to access the money immediately due to a six-month restriction that prevents insiders from selling new shares. While this alleviates some of his financial pressures, it remains uncertain what will happen with his assets due to ongoing legal battles and regulatory requirements. The circumstances surrounding his financial situation occur amidst other legal issues that are yet to be resolved.
Despite these challenges, former President Trump has been looking forward to launching Truth Social on the stock market through DWAC’s merger with his media startup. The platform aims to provide a voice for conservative Americans who feel silenced by mainstream social media platforms like Twitter and Facebook.
In conclusion, while this merger brings hope for financial gain and relief from some legal pressures for Donald Trump, it remains uncertain what lies ahead regarding his assets and legal battles.
