Investors pull almost $140 million from the company planning to merge with Donald Trump's Truth Soci

[Tom Yossarian Joad]

Source: Insider

Investors are walking away from commitments to invest in a company that planned to merge with Donald Trump's Truth Social platform.

"Blank-check" company Digital World Acquisition said in a Securities and Exchange Commission filing on Friday that some backers were pulling a total of $139 million they had planned to put into the deal. Digital World had previously announced funding commitments of $1 billion.

The investors who signed up for the deal about a year ago were able to back out if it was not completed by September 20.

The investors who walked away were not disclosed in the filings, but Reuters reported that Sabby Management, which planned to put in $100 million, is one that had bowed out. /snip

Read more: https://www.businessinsider.com/investors-pull-140-million-from-merger-with-trumps-truth-social-2022-9?fbclid=IwAR3bdtAzddpYSMsHMf7rL5pRtWrAyhXm2LnFYayHgzXmVmN3FUTQEJp8EAM

[Faux pas]

1. Ha Ha Ha

[iluvtennis]

2. Good.

[Submariner]

3. Probably bc he changed the name from Truth Social to Q-Social

and is now his contributors know TFG is affiliated with the JFK Jr. clown car followers that gather at Dealey Plaza.

[Cha]

13. And, Rats Sinking Ship Syndrome..

did he really change the name from that Gaslit POS to a Q thing?

[Submariner]

14. He didn't change name

Q just seemed a more appropriate moniker to me in the absence of any truth.

[Cha]

15. Got it.. you changed it

for him.

I bet Stupid DT thought he was being so clever with "truth social" coming from a Pathological LIAR!

[MontanaMama]

19. I think he should call it

Gaslit Social. Because it is.

Hello Cha!

[vlyons]

21. Better name Hate-Fest Anti-Social

nt

[Cha]

24. We shall call it Gaslit Social!

Aloha MontanaMama!

[BumRushDaShow]

25. Or "Gasbag Social"

[keithbvadu2]

26. Social Truth Donald... STD

Social Truth Donald... STD

[BumRushDaShow]

27. ...

[Cha]

28. Gaslighting Gasbags ⛽️

[BumRushDaShow]

29. That's even better!

[Cha]

30. Lol 😆

😎😇🏝🌈💙

[MontanaMama]

31. I like that better!

[chowder66]

4. Nearly investing in a company called "Truth Social" with the biggest pathological liar behind it

says it all.

The writing was on the wall from the get-go and the fact that they basically invested in the first place shows that they are most likely corrupt companies or individuals.

[Yo_Mama_Been_Loggin]

5. As I said in another thread

Can't imagine any savvy investor giving their money to Donald Trump.

[Ford_Prefect]

17. Or to Savvy after this...

[Jack the Greater]

6. "Digital World had previously announced funding commitments of $1 billion."

That leaves over $860 million to do the deal. $860 million are still backing Truth Social.

THAT is the real story!

[oldsoftie]

7. But we still don't know the extent of the remaining commitments.

I still think it'll sink

[Jack the Greater]

11. Unless invetors withdraw funding, they are still committed

... and over $860 million are still committed.

[Ford_Prefect]

18. I strongly suspect much of that is effectively vapor-ware.

Promises of investment based on certain conditions and degree of guaranteed return which are now unlikely to be met.

[vlyons]

22. A funding "commitment" is not the same as real money

It's just a promise, an intention that can be negated and back out of for various reasons.

[Fullduplexxx]

8. It no longer matters Facebook is going to let him back on

[Tom Yossarian Joad]

9. I thought it was Twitter that let him back in. Hoping that is short lived.

[Fullduplexxx]

10. Star Member Celerity (31,652 posts) Meta Executive Says Donald Trump May Be Allowed Back On Facebo

Star Member Celerity (31,652 posts)


Meta Executive Says Donald Trump May Be Allowed Back On Facebook Following Review

https://deadline.com/2022/09/donald-trump-facebook-suspension-meta-1235124696/

[Tom Yossarian Joad]

12. Thanks. I really wish that man would go ahead and stroke out.

[maxsolomon]

16. 15%

Maybe not enough to scuttle it entirely?

[vlyons]

20. Anyone investing in Trump anything is an idiot.

Trump is poison money-wise. Why throw good money after bad?

[Martin68]

23. Wealthy conservative businessmen are beginning to catch on the anything Dump is involved in

is likely to be both a colossal failure and an expensive scam where Dump pockets a good part of the investment.

[Mawspam2]

32. Most of the money commitments are in crypto...

...which in now only 30% of the value when the commitments were made. Yes, vaporcoins.

[JohnnyRingo]

33. The Art Of The Deal....

Is just so much finger painting. What a master businessman!

[DFW]

34. Trump's idea of a partnership seems to deviate from the traditional model

A “Trump Partnership” means that people other than Trump put money into the partnership, and Trump takes the money out of the partnership and keeps it for himself.

[Hotler]

35. This is good to know. These investors and companys are fascist traitors in my book.

If you pour that kind of money behind a would be dictator you're a fascist. These guys need their books looked at. First stop for the so called IRS army of thugs should be Digital World Acquisition.