A New York-based federal grand jury sending subpoenas to members of the company's board could have derailed plans for a special purpose acquisition company.
According to a new SEC filing, these subpoenas have requested documents related to Digital World's S-1 filing, communications with or about multiple individuals, and information about Rocket One Capital.
The SEC inquired about the merger of the acquisition corporation and the Truth Social platform.
Digital World Acquisition Corp. said in the filing that the requests could delay the effectiveness of the registration statement.
In February, Truth Social launched to the general public on the App Store, but many people had a hard time getting into the social network. The company launched an app for the web in May, but there is no version for the mobile operating system.
When he was banned from the platform last year, Trump had more than 88 million followers on the social media platform.
The former U.S. president has a deal with Truth Social that prevents him from posting on other networks for six hours. Even if Musk doesn't ban Trump after he takes over, the account will probably post content from Truth Social.
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