Digital World Acquisition, the SPAC planning to take public Trump Media and Technology Group, today filed a proxy seeking an extension up to September 2024 in three-month increments.
While the move was expected, Digital World previously said that Donald Trump’s company disagrees with the SPAC’s interpretation of its liquidation deadline. Digital World shareholders last year approved an extension to Sept. 8. The SPAC contends that under the extension provision it has the right to push the deadline back up to 12 more months to September 2024.
Digital World earlier this month said it “expects to work with TMTG in good faith to address this disagreement in a manner that is in the best interest of its shareholders.”
The SPAC also disclosed last week that it has reached a tentative settlement with the SEC, which has been investigating Digital World for alleged merger discussions with Trump’s company prior to IPO. Terms call for Digital World to pay a civil fine of $18 million. Read more.
