Trump's Truth Social gets a lifeline after deadline for a big cash infusion is extended
Donald’s Trump’s Truth Social got a lifeline this week after a blank-check company that could infuse the social media platform with cash agreed to extend a critical deadline for a year Donald's Trump's Truth Social got a lifeline this week after a blank-check company that could infuse the social media platform with cash agreed to extend a critical deadline for a year. Digital World Acquisition Corp., a special-purpose acquisition company, or SPAC, had a Friday deadline to complete its acquisition of, or merger with, Truth Social parent Trump Media & Technology Group. Digital World shareholders, who have agreed to extend the deadline four times already, agreed to do so again this week with about 72% of shareholders voting to push the merger deadline until Sept. 8, 2024, according to the company. A merger would release to Trump Media $290 million held by Digital World and another $1 billion that private investors had committed to the combined company. Trump’s company ...