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erienewsnow.com 11 Jan, 2022 16:15 am

Biden regulators could rain on Trump's SPAC parade - Erie News Now

Biden regulators could rain on Trump's SPAC parade - Erie News Now
By Matt Egan, CNN Business

" Trump Media & Technology Group (TMTG) simultaneously made public a deal to merge with a SPAC company called Digital World Acquisition Corp.And Digital World has already disclosed that federal regulators are investigating the deal.Yet, based on Digital World's closing price on Monday, TMTG has achieved a staggering market valuation of $11.Neither TMTG nor Digital World responded to requests for comment.

Arc, also known as Arc Group, is the sponsor of Digital World.Timing is key in the Trump SPAC Legal experts said the SEC is likely to look most closely at whether Digital World misled investors about the timing of its deal talks with TMTG.

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