Guys, Lord Damp Nut’s boutique social media platform, the hysterically-named Truth Social, has hit a snag in grifting their investors, and plans to return ½ Billion Ameros to their investors:
The public shell corporation that has been preparing to merge with former President Donald Trump’s technology firm—the parent company of his social media platform, Truth Social—announced Thursday that it was dropping its plans to pursue the merger through a specialized process called a private investment in public equity (PIPE) transaction. The company also said it planned to return $533 million it had raised from investors to complete the deal. The merger between Digital World Acquisition Corp. (DWAC), a special purpose acquisition company, and Trump Media & Technology Group failed to materialize by a September 2022 deadline set by U.S. regulators, giving DWAC the option to back out of the deal.
Former Representative and current Island of the Damned Home Owner Association president Trump Media & Technology CEO Devin Nunes record of success remains unbroken.
Do continue.
A TMTG spokesperson claimed in a release Thursday that the two companies still planned to merge and said the development was, in fact, a positive step—but declined to comment when pressed by Reuters to say how backing out of the PIPE deal would benefit either party.
I’d like to hear that, too.
Republished with permission from Mock Paper Scissors
