Trump’s Media and Tech Merger Wants DWAC to Delay Income Results in Security Study

A major deal between Truth Media and Technology Group and the special purpose acquisition company (SPAC) Digital World Acquisition Corp. has led to several major missteps in its bid to absorb and take Trump’s tech company public. DWAC has asked to delay its earnings results while data points are still under review, as well as an investigation into violations of securities regulations.

Digital World Acquisitions Corp. has filed to delay its latest earnings report until August 16, 2022, CNBC reported. In a filing with the United States Securities and Exchange Commission (SEC), DWAC said it expects to report its earnings results by the required filing date within the SEC grace period. DWAC said it had a loss of about $4.7 million in the three months ending June 30, 2022, although it said those numbers are still under review and may not be accurately reflected in the report.

Digital World Acquisition Corp.’s request to delay its earnings results comes as the company faces a securities regulatory probe from the SEC and other federal regulators, which DWAC reportedly came to as part of an investigation into whether the merger violated certain securities laws. and regulations. The merger is set to provide billions in capital investment for Trump Media and Technology Group. While the investigation has nothing to do with Trump’s ongoing woes, the former president’s 2016 Not to mention, they are facing a number of legal issues, including an ongoing investigation into their role in the January 6, 2021 riots at the US Capitol. Twitter and created the social foundation for truth.

Currently, Digital World Acquisitions Corp. has requested a one-year extension of the merger from September 2022. DWAC has previously said that an investigation into the Trump media and tech merger could delay or even block the deal altogether. While we await further updates, stay tuned here on Shacknews.