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SPAC tied to Trump’s social media venture receives inquiries from U.S. SEC -Breaking

by Mike Robinson

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(Reuters) – The blank check company that took the social media venture of former President Donald Trump public announced Monday it had received financial regulators’ fact-finding questions as investors were given a glimpse into its operations ahead of it being listed on stock markets.

Digital World Acquisition Corp stated that it received a request from the U.S. Securities and Exchange Commission (FINRA) for additional information.

The SEC had sought documents relating to communications between the blank check firm and Trump’s social media venture among others, while FINRA asked for detail surrounding events, specifically, a review of trading, that preceded the public announcement of its merger with Trump Media & Technology Group Corp (TMTG).

Digital World Acquisition Corp’s shares saw premarket gains fall and trade higher in the early stages of trade.

DWAC’s filing comes just days after TMTG said that it entered into agreements for $1 billion in funding from a group unidentified investors. This is as it prepares the U.S. stock exchange.

DWAC released its first set of projections following the announcement. It also stated that it expected Trump’s social media platform, TRUE, to see $13.50 per user in 2026. This is despite having 81 million users.

DWAC stated that it anticipates reaching 40 million subscribers total by 2026.

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