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Drudge Retort: The Other Side of the News
Saturday, October 23, 2021

Investors in the SPAC that merged with Trump Media reportedly sold their stakes on the news. "For us, this was not a close call," Boaz Weinstein, of Saba Capital Management, told Bloomberg. Shares of Digital World Acquisition Corp. climbed 357% on Thursday and 107% on Friday. As news hit that former President Donald Trump's new media company, Trump Media & Technology Group, would go public via a SPAC, at least two investors pulled their money, reports said. "I knew that for Saba the right thing was to sell our entire stake of unrestricted shares, which we have now done," Boaz Weinstein, founder of Saba Capital Management, told Reuters.

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Reuters reported that Lighthouse Investment Partners also pulled its investment. In a statement sent to Reuters on Friday, the investment firm said: "Lighthouse was not aware of the pending merger and no longer holds unrestricted shares of the SPAC."

Saba had a 9.3% stake in the SPAC, while Lighthouse had a 11.2% stake, CNBC reported, citing documents filed with the US Securities and Exchange Commission in September.

In a statement emailed to Bloomberg, Weinstein said, "Many investors are grappling with hard questions about how to incorporate their values into their work. For us, this was not a close call."

#1 | Posted by LegallyYourDead at 2021-10-23 07:28 PM | Reply

Boaz Weinstein! AHAHAHAHAHA!

#2 | Posted by LegallyYourDead at 2021-10-23 11:06 PM | Reply

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