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S-4 Filing

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Digital World Discloses In-Fighting Could Derail Trump Media Deal

Digital World in an amended SEC filing revealed a dispute over compensation with its founder and former CEO Patrick Orlando, with the SPAC warning it could postpone or even derail the long-delayed merger with Trump Media & Technology Group (TMTG). Meanwhile, the ex-president's media company is facing new disputes of its own.
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Trump Media Investors Stand to Receive 40M Earnout Shares in Addition to $875M Merger Consideration

The initial payout for the acquisition is still a 33% drop from the approximately $1.3 billion expected when Digital World had a $1 billion PIPE to go with its $293 million in trust. The SPAC last month terminated the remainder of the PIPE, although that was after some investors pulled out due to delays in completing the deal, which was announced in October 2021.