Digital World Acquisition Corp. says the federal investigations 'can be expected' to delay, if not end, its merger deal with Trump's company.
’s nascent media and technology company may need to start looking for other financing options, as federal investigations into its merger partner threaten to delay or kill the deal.
On Monday morning, Digital World Acquisition Corp., the special purpose acquisition company that had agreed to merge with Trump Media & Technology Group, disclosed that on June 16 and 24 it had received grand jury subpoenas. The subpoenas “and the underlying investigations by the Department of Justice and the SEC, can be expected to delay effectiveness of the Registration Statement, which could materially delay, materially impede, or prevent the consummation of the Business Combination,” DWAC wrote in the filing.
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