Trump-linked SPAC adjourns meeting for three hours to continue vote on merger delay

This illustration photo shows Donald Trump’s new social media app Truth Social, glitching on a smartphone in Los Angeles, February 21, 2022.

The shareholder meeting of Digital World Acquisition Corp was adjourned to allow more time for voting on the merger.

The deadline for the merger is Thursday, and the vote could decide the fate of a public offering by DWAC and a potential listing by Trump Media and Technology Group.

The Truth Social was founded by the former president after he was banned from the social media site.

The shares of DWAC were up.

The vote's failure could result in the SPAC's demise. The DWAC CEO said that his company and the sponsor of the DWAC would give him a $2.8 million injection to extend the program.

DWAC was supposed to announce the vote results on Tuesday, but the meeting was adjourned two minutes before it was due to start. According to sources familiar with the matter, DWAC failed to get the votes needed for the extension.

The extension of the merger deadline is needed by DWAC. He says the deal has attracted a lot of retail investors. There is a vote on Truth Social.

According to reports, the company owed over $1 million to a contractor. The company may not need the money from the DWAC deal.

I don't need financing if I'm really rich. The company is a private one. On Saturday, Trump wrote in a truth social post.

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