Digital World, Trump's media firm add new termination clause to merger deal
© Reuters. FILE PHOTO: Former U.S. President and Republican presidential candidate Donald Trump appears at the fall convention of the California Republican Party in Anaheim, California, U.S., September 29, 2023. REUTERS/Mike Blake/File Photo - Digital World Acquisition and former U.S. President Donald Trump's media company have added an option that allows them to terminate their merger deal between Oct. 31 and Nov. 21, a regulatory filing showed on Monday.
The blank-check firm amended the merger agreement on Sept. 29, according to the filing, which also disclosed that Digital World can terminate the agreement only in that three-week period in November. "The Third Amendment extends the period of time for the parties to complete mutual supplemental due diligence ahead of DWAC's anticipated filing of an updated registration statement on Form S-4 with the Securities and Exchange Commission," the companies said in a release dated Sept. 29.Digital World has faced a series of challenges since it stuck a merger deal with Trump Media & Technology Group on October 2021. It has been a target of investigations by the U.S.
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