Donald Trump got kicked off of Twitter because the liberals didn’t like his brand of the truth. He wasn’t willing to play by the rules, so they silenced him – even when he was still the sitting President of the United States.
Trump wasn’t about to go down without a fight. He launched his own social media platform, Truth Social. While it never gained the same level of use as Twitter, it did allow Trump to share his thoughts about politics, the country, and life in general.
A shell company that was covering the interest of nearly three dozen hedge funds and wealthy private investors had plans to merge with Truth Social. The $1 billion financial deal would have made an incredible impact on the platform.
Now, it looks like there’s a delay in that deal – and according to the regulatory filing, the deal will be expiring on September 20 unless action is taken.
The merger was supposed to be completed within 90 days. However, the shell company has made a series of delays – and the offer is in turmoil as a result of all that has happened.
The New York Times reported that the “$1 billion financing arrangement, known as a private investment in public equity, or PIPE, was intended to provide another source of financing to Trump Media & Technology Group, the parent of Truth Social, upon the completion of its merger with Digital World Acquisition Corp., a vehicle known as a special purpose acquisition company, or SPAC.”
Digital World raised over $300 million within its IPO.
And investors would be providing the added $1 billion once the imperiled merger went through – and this is all based on a statement that was issued last December.
If the PIPE termination date passes, the investors involved would no longer be contractually obligated to participate – and that means that Truth Social’s merger could fail.
With the amount of money on the line, it means that the social platform could simply fail.
Truth Social has been growing, but it’s certainly no Twitter. On average, there are 500,000 daily users on Trump’s platform – and that’s compared to around 200 million that are on Twitter.
Could the $1 billion deal help to make Truth Social more competitive and reach more daily users? Of course.
And with Elon Musk trying to back out of the deal with Twitter, it seems that Trump may not ever get back on Twitter. Though, even if he were invited to rejoin at this point, it’s unlikely that he would. And that’s more out of pride than anything else.
So, we need Truth Social to succeed so that we can hear more about Trump and what his thoughts are on politics. If we don’t hear directly from him, there’s no telling how much the liberal media outlets are interpreting for him.
Although some of the investors could stay in the deal with the hope that the merger would be completed at a later date, that’s all in question thanks to what the DOJ and FBI have done.
The 36-page report released by the Department of Justice regarding the FBI raid at Trump’s Mar-a-Lago residence shows that Trump may have obstructed a government investigation – and with that kind of info going around, it’s hard to feel comfortable about being in a business deal.
Is it possible that this is all a witch hunt to take Trump down and silence him once and for all? Of course. But it’s not just about preventing Trump from running for office. It’s clear that the DOJ wants to ruin him entirely – and that includes destroying various business deals.
We’ll know more about this deal in a few days. If you suddenly head to Truth Social and find that it’s not there, well, you know what happened.