Investors pull almost $140 million from the company planning to merge with Donald Trump's Truth Soci
Source: Insider
Investors are walking away from commitments to invest in a company that planned to merge with Donald Trump's Truth Social platform.
"Blank-check" company Digital World Acquisition said in a Securities and Exchange Commission filing on Friday that some backers were pulling a total of $139 million they had planned to put into the deal. Digital World had previously announced funding commitments of $1 billion.
The investors who signed up for the deal about a year ago were able to back out if it was not completed by September 20.
The investors who walked away were not disclosed in the filings, but Reuters reported that Sabby Management, which planned to put in $100 million, is one that had bowed out. /snip
Read more: https://www.businessinsider.com/investors-pull-140-million-from-merger-with-trumps-truth-social-2022-9?fbclid=IwAR3bdtAzddpYSMsHMf7rL5pRtWrAyhXm2LnFYayHgzXmVmN3FUTQEJp8EAM
Faux pas
(14,667 posts)iluvtennis
(19,849 posts)Submariner
(12,503 posts)and is now his contributors know TFG is affiliated with the JFK Jr. clown car followers that gather at Dealey Plaza.
Cha
(297,154 posts)did he really change the name from that Gaslit POS to a Q thing?
Submariner
(12,503 posts)Q just seemed a more appropriate moniker to me in the absence of any truth.
Cha
(297,154 posts)for him.
I bet Stupid DT thought he was being so clever with "truth social" coming from a Pathological LIAR!
MontanaMama
(23,307 posts)Gaslit Social. Because it is.
Hello Cha!
vlyons
(10,252 posts)nt
Cha
(297,154 posts)Aloha MontanaMama!
BumRushDaShow
(128,845 posts)keithbvadu2
(36,775 posts)Social Truth Donald... STD
BumRushDaShow
(128,845 posts)Cha
(297,154 posts)BumRushDaShow
(128,845 posts)Cha
(297,154 posts)😎😇🏝🌈💙
MontanaMama
(23,307 posts)chowder66
(9,067 posts)says it all.
The writing was on the wall from the get-go and the fact that they basically invested in the first place shows that they are most likely corrupt companies or individuals.
Yo_Mama_Been_Loggin
(107,922 posts)Can't imagine any savvy investor giving their money to Donald Trump.
Ford_Prefect
(7,887 posts)Jack the Greater
(601 posts)That leaves over $860 million to do the deal. $860 million are still backing Truth Social.
THAT is the real story!
oldsoftie
(12,531 posts)I still think it'll sink
Jack the Greater
(601 posts)... and over $860 million are still committed.
Ford_Prefect
(7,887 posts)Promises of investment based on certain conditions and degree of guaranteed return which are now unlikely to be met.
vlyons
(10,252 posts)It's just a promise, an intention that can be negated and back out of for various reasons.
Fullduplexxx
(7,857 posts)Tom Yossarian Joad
(19,227 posts)Fullduplexxx
(7,857 posts)Star Member Celerity (31,652 posts)
Meta Executive Says Donald Trump May Be Allowed Back On Facebook Following Review
https://deadline.com/2022/09/donald-trump-facebook-suspension-meta-1235124696/
Tom Yossarian Joad
(19,227 posts)maxsolomon
(33,310 posts)Maybe not enough to scuttle it entirely?
vlyons
(10,252 posts)Trump is poison money-wise. Why throw good money after bad?
Martin68
(22,791 posts)is likely to be both a colossal failure and an expensive scam where Dump pockets a good part of the investment.
Mawspam2
(727 posts)...which in now only 30% of the value when the commitments were made. Yes, vaporcoins.
JohnnyRingo
(18,624 posts)Is just so much finger painting. What a master businessman!
DFW
(54,349 posts)A Trump Partnership means that people other than Trump put money into the partnership, and Trump takes the money out of the partnership and keeps it for himself.
Hotler
(11,416 posts)If you pour that kind of money behind a would be dictator you're a fascist. These guys need their books looked at. First stop for the so called IRS army of thugs should be Digital World Acquisition.