"Shareholders in Digital World Acquisition Corporation voted Friday to approve a merger with Donald Trump's social media company, a deal that could net the former president an eventual windfall of $3 billion or more.

The vote by DWAC shareholders comes about two-and-a-half years after the so-called special purpose acquisition company announced plans to merge with Trump Media & Technology Group, the private firm that owns the Truth Social app platform."

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That potential windfall for Trump, while massive, could not be immediately realized, at least not under the deal's current terms. Trump will be barred from selling shares in the merged company for at least six months.

It is possible that the board of directors could vote to allow Trump to sell shares earlier than that. And that board could be stocked with people close to Trump, including his son Donald Trump Jr., former wrestling company executive Linda McMahon, and Trump's former trade representative Robert Lighthizer, according to a list of planned nominees.

If the board signed off on lifting the share lock-up period, that could quickly free up a large source of cash for Trump, who is the presumptive Republican presidential nominee this year."

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"Trump's lawyers in a court filing said he did not have enough cash to offer as collateral to bond companies for a bond that would secure the judgment and prevent James from collecting.

But in a Truth Social post on Friday, Trump claims that "I currently have almost five hundred million in cash."

"Why Trump's big Wall Street payday won't bail him out of financial trouble

"But Trump's stake will be tied up for much of the year under a so-called lock-up agreement, a normal arrangement for such deals to ensure that insiders don't bail as soon as a company goes public and push down the stock price.

Trump could try to obtain a waiver from that rule, but even then he wouldn't be able to sell more than a small fraction of his stake at any given time " up to 1 percent of the outstanding shares every quarter.

And if he eventually does unload a large quantity of stock, the ramifications could be significant, according to investors and others watching the deal. That's because Trump himself is the heart of the venture, they say, and any sign that his interest is waning could chill investors.

"It's simply trading on Trump's name," said Kristi Marvin, founder of SPACInsider, a research firm.

"People aren't buying this because they like the fundamentals " they're buying this because they like Trump."

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"By the time Trump is able to start selling his shares, I doubt they will be worth much," Quinn said. "Certainly less than his present requirements."
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#2

Wrong yet again, Junior.

see posts #2 and 3....

The original investors were Russians, Chinese, and Saudis; see the link at #4.

And yeah, the whole thing is a scam, see the link at #3.

Fortunately it is likely too late to matter, and too poor an investment for anyone to fall for... other than Trumpers.

"Lawfare" has become just another stupid rwing meme these days.

Mainly due to the fact that their Cult Leader is a criminal, and the law is being used to bring him to justice.

Cool... now tell us how and when Trumpy was wrongfully indicted.