Biden's quick follower gain on Truth Social coincides with Trump's SPAC, DWAC, refunding $1 billion to investors.
Former President Donald Trump is in for a tumultuous October as the Biden-Harris campaign has not only outshone the former president on his own social platform, Truth Social, but the special purpose acquisition company taking Trump's site public has also opted to return a whopping $1 billion to its shareholders.
Former Congressman and current TMTG CEO Devin Nunes echoed Swinder, saying the move was beneficial for TMTG equity holders. However, it casts a cloud of uncertainty on the financial sustenance of TMTG post-merger, a process already beleaguered by multiple delays. The loss of funding—a significant setback—has undoubtedly made the road to the merger more precarious.
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