– Digital World Acquisition Corp, the blank-check firm taking former U.S. President Donald Trump’s Reality Social app public, on Friday introduced a particular assembly of shareholders to approve an extension to the closing date to finish the merger.
“Whereas we're utilizing our greatest efforts to finish the Enterprise Mixture as quickly as practicable, our board of administrators believes that there is not going to be enough time earlier than the Termination Date to finish the Enterprise Mixture,” Digital World stated in a SEC submitting.
The termination date to finish the merger is Sept. 8, 2022. Digital World is looking for to increase the date by 12 months.
The announcement comes amid probes by U.S. regulators over the proposed merger.
Digital World stated in June its board of administrators had acquired subpoenas from a Federal grand jury within the Southern District of New York, whereas the U.S. Securities and Alternate Commision and the Monetary Trade Regulatory Authority had additionally made requests for extra data on the deal.
Trump Media & Know-how Group Corp, the creator of Reality Social, in October agreed to merge with Digital World and was anticipating the deal to shut by the second half of this 12 months.
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