Washington Post drops bombshell on Donald Trump, reveals that Truth Social now faces a “catastrophic threat” of having to pay its investors back a whopping $300 million if its merger collapses before the September 8th deadline.
But it gets even WORSE for Trump…
If the deal fails, which industry experts say is “very likely,” Donald Trump will end up with “nothing” in financial gain — a well deserved ending for a grifter and conman.
According to the Washington Post, there is a September 8 deadline for the merger to close or be extended and, should it fail, Truth Social will be forced by law to return $300 million to investors.
The Washington Post says that, “With the $300 million Digital World had already raised from investors, Trump Media & Technology Group, creator of the pro-Trump social network Truth Social, pledged then that the merger would create a tech titan worth $875 million at the start and, depending on the stock’s performance, up to $1.7 billion later. Now, almost two years later, the deal faces what could be a catastrophic threat.”
The Washington Post report continues, revealing that Truth Social has been plagued by unceremonious executive departures, credible accusations of insider trading, and even a whopping $18 million settlement over accusations that Truth Social executives lies to investors and the Securities and Exchange Commission.
The Washington Post report concludes, “Digital World needs 65 percent of the shares held by its nearly 400,000 investors to vote ‘yes’ on the deadline extension; unvoted shares are counted as ‘no’ votes. If the extension fails, Digital World said in a filing in July that it would ‘cease all operations except for the purpose of winding up’ and repay investors at a price of about $10.24 per share —