Trump Media and Technology Group may have privately held merger discussions with special purpose acquisition company (SPAC) Digital World Acquisition Corp but did not disclose them in its SEC filings or other public documents, the letter https://www.warren.senate.gov/imo/media/doc/11.17.2021%20Trump%20SPAC%20Letter.pdf said. Senator Elizabeth Warren on Thursday urged Securities and Exchange Commission chairman Gary Gensler to investigate a planned merger between former U.S. President Donald Trump’s social media company and a blank-check firm for potential violations of securities laws. “The reports about DWAC and Trump Media and Technology Group appear to be a textbook example of a SPAC misleading shareholders and the public about materially important information,” Warren said in her letter. Both Trump Media and Digital World were not immediately available for comment. The deal, announced in October https://www.reuters.com/world/us/former-us-president-donald-trump-launches-new-social-media-platform-2021-10-21, would create a social media app, TRUTH Social, which Trump said would “stand up to Big Tech” companies such as Twitter and Facebook.

Source: New York Times November 18, 2021 18:11 UTC