Trump media partner says it has lined up $1B in capital

ABCNews

By The Associated Press
In this Dec. 31, 2020, file photo, President Donald Trump arrives on the South Lawn of the White House, in Washington. (AP Photo/Evan Vucci, File)

Donald Trump’s new social media company and its special purpose acquisition company partner say the partner has agreements for $1 billion in capital from institutional investors.

The former president launched his new company, Trump Media & Technology Group, in October. He unveiled plans for a new messaging app called “Truth Social” to rival Twitter and the other social media platforms that banned him following the Jan. 6 insurrection at the U.S. Capitol.

TMTG’s plan is to become a publicly listed company through a merger with the publicly traded Digital World Acquisition Corp., a special purpose acquisition company whose sole purpose is to acquire a private company and take it public.

Publish : 2021-12-06 17:39:00

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