Eat a bag of dicks, Letitia.
Former President Donald Trump’s media company, which operates his Truth Social site, has received approval for the merger with a purpose acquisition company called Digital World Acquisition Corp., that would make the website a publicly traded entity and yield millions of dollars.
DWAC said the U.S. Securities & Exchange Commission signed off on its registration statement and that the shareholder vote date would be announced within two days to vote on the merger, according to an SEC filing on Wednesday.
“We are immensely proud of the strides we’ve taken towards advancing the Business Combination,” Eric Swider, CEO of Digital World, said in a statement included in the filing. “This achievement marks a significant milestone for us. Our sincere thanks go to our shareholders for their unwavering support. We are excited to soon share the news of the Business Combination’s approval process with them.”
Should the merger go through, Trump would hold more than 78 million shares, which would be worth nearly $4 billion at current prices.
Trump, who would own between 58% and 69% of the company, and other investors could earn tens of millions more shares per a provision, known as an “earnout,” tied to the stock’s performance, a filing said…..
Trump has 6.61 million followers on Truth Social and 87.4 million followers on Twitter.
When this merger is complete, it will be another win for him and a kick in the ass to the Dems who have been persecuting him since 2016.