The impending merger represents a critical milestone for Trump Media, paving the way for the company to join the ranks of publicly traded entities in the United States.
The infusion of millions from the deal, coupled with Trump’s substantial stake in the company, underscores the potential magnitude of this venture.
Overcoming Challenges
Julian Klymochko, CEO of Accelerate Financial Technologies, which operates a fund focused on so-called blank-check enterprises, expressed astonishment at the deal’s progression.
“I never thought it would get to this point,” said Klymochko. He was surprised that despite numerous challenges Digital World’s plan to acquire the private company and take it public.
Former DWAC CEO Patrick Orlando’s is demanding additional compensation. Orlando a 14.8% owner of DWAC’s outstanding shares, holds a controlling interest of the founder shares. If he decided to oppose the merger it could close the deal down. But it seems unlikely.
As Trump’s media empire inches closer to public listing, the stage is set for Truth Social to make a bigger footprint on the social media landscape.
