Aug 5 (Reuters) – Digital World Acquisition Corp,
the blank-check company taking former U.S. President Donald
Trump’s Truth Social app public, on Friday announced a special
meeting of shareholders to approve an extension to the cut-off
date to complete the merger.
“While we are using our best efforts to complete the
Business Combination as soon as practicable, our board of
directors believes that there will not be sufficient time before
the Termination Date to complete the Business Combination,”
Digital World said in a SEC filing.
The termination date to complete the merger is Sept. 8,
2022. Digital World is seeking to extend the date by 12 months.
The announcement comes amid probes by U.S. regulators over
the proposed merger.
Digital World said in June its board of directors had
received subpoenas from a Federal grand jury in the Southern
District of New York, while the U.S. Securities and Exchange
Commision and the Financial Industry Regulatory Authority had
also made requests for additional information on the deal.
Trump Media & Technology Group Corp, the creator of Truth
Social, in October agreed to merge with Digital World and was
expecting the deal to close by the second half of this year.
(Reporting by Yuvraj Malik in Bengaluru; Editing by Krishna
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