Trump related SPAC Announcement!

[QP!]

And now for this installment of 'The biggest Loser' and its sequel 'Everything Trump touches goes to shit'...

Trump’s SPAC Now Says Its 2021 Financial Statements ‘Should No Longer Be Relied Upon’


The company planning to merge with Trump Media & Technology Group, owner of the Truth Social platform, has now walked away from two years of financial statements after informing the Securities and Exchange Commission on Monday that its audited financials for 2021 “should no longer be relied upon.”

In May, Digital World Acquisition Corp issued a similar notice to the SEC regarding its financial statements for the year ending Dec. 31, 2022.

The retractions began after Digital World’s management, audit committee and advisors concluded that an error mandated reissuing the company’s audited financial statements. Digital World’s filings don’t identify the mistake, but say it is indicative of “a material weakness” in the company’s “internal control over financial reporting,” and that “the company’s disclosure controls and procedures were not effective.”...

That ^^^ announcement is separate from the prior actions where they had to return ~$1B for prior failings in disclosure.

SPAC to return remaining $533 million raised for Trump social media deal
October 12, 2023

Digital World Acquisition Corp (DWAC.O), the SPAC that plans to merge with former U.S. President Donald Trump's media and technology company, said this week it would return to investors $533 million raised for the deal, after some have already backtracked on $467 million of commitments.

The development means the end of the so-called private investment in public equity (PIPE) transaction that would have delivered Trump Media & Technology Group (TMTG), the operator of Trump's Truth Social platform, $1 billion as part of its merger with Digital World....

SPAC returns remaining $533 million raise for Trump social media deal

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....

 

[domer76]

And now for this installment of 'The biggest Loser' and its sequel 'Everything Trump touches goes to shit'...



That ^^^ announcement is separate from the prior actions where they had to return ~$1B for prior failings in disclosure.

It seems that everything that Trump touches dies.