Trump -linked SPAC changes address to UPS Store as investors pull more than $130 million

[kpete]

The party is over.




Digital World Acquisition Corp., the blank-check company looking to take Trump Media and Technology Group public, has changed its listed address to a UPS Store in Miami.

The change from a Miami office building to a UPS address came with DWAC's regulatory filing on Friday disclosing that some investors pulled out tens of millions of dollars.


The company said it had lost $138.5 million of the $1 billion in financing from private investors in public equity, also known as PIPE, to fund Trump Media after the merger. The contractual obligation for those investors to contribute to former President Donald Trump's media company after the deal had expired last Tuesday, allowing them to pull their funding.

One of the former private investors told CNBC that it pulled financing from DWAC because of the many legal obstacles facing the company. The investor, who declined to be named due to the sensitive nature of the matter, was also underwhelmed by the popularity of Trump Media's Truth Social app as measured by Donald Trump's follower counts.

Link to tweet

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https://www.cnbc.com/amp/2022/09/26/trump-linked-spac-changes-address-to-ups-store-as-investments-pulled.html

[yankee87]

1. 138 million dollars

Wondering who grifted the missing money. Sure that congressman who took over grifted half the money. Suckers born every minute.