Trump Media's Funding Partner To Return $1B To Investors Amid Mounting Hurdles
Portfolio Pulse from Benzinga Neuro
Digital World Acquisition Corp. (DWAC) plans to return $533 million of the $1 billion raised for Trump Media & Technology Group, following the cancellation of $467 million in funding commitments. This could potentially derail the anticipated merger between DWAC and the Trump media group. Despite the challenges, DWAC CEO Eric Swider sees the cancellation of funding commitments as a positive step towards finalizing the business combination.
October 13, 2023 | 11:52 am
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DWAC's decision to return a significant portion of the funds raised for Trump Media & Technology Group could potentially impact the anticipated merger between the two entities.
The cancellation of $467 million in funding commitments and the decision to return $533 million could potentially derail the anticipated merger between DWAC and the Trump media group. This could negatively impact DWAC's stock in the short term.
CONFIDENCE 90
IMPORTANCE 80
RELEVANCE 100