Investors playing hardball with troubled Trump start-up as they threaten to take their money and walk: report

By Tom Boggioni

investors playing hardball with troubled trump start-up as they threaten to take their money and walk: report

Donald Trump (Photo via AFP)

According to a report from Politico, the embattled partnership between Donald Trump’s social media start-up and the company behind the SPAC that would take it public is on the verge of falling apart for good as potential investors either renege on their plans to fund it or demand a bigger return on their investment.

At issue is the proposed deal that was supposed to inject over a billion dollars into the increasingly troubled start-up before it went public — which now may collapse under its own weight.

As Politico’s Declan Harty reports, investors sensing weakness now want a bigger slice of the pie if they are expected to park their money in a business deal that has been struggling since its inception.

Reporting, “The group of more than three dozen investors who had planned to put $1 billion into the company have begun to waver as bad news keeps piling up around the deal,” Harty wrote, “The hedge funds, trading firms and other major backers are questioning whether the financial riches that first attracted them to the transaction are still strong enough to hold their interest in a deal fraught with troubles, according to four investors who asked not to be named. Negotiations have been ongoing as some investors seek bigger potential profits in exchange for following through on commitments to put hundreds of millions of dollars into the venture.”

ALSO IN THE NEWS: Trump ‘played his cards really, really poorly’ and now an indictment looms: former DOJ official

With a cloud hanging over it due to an SEC investigation and the company’s inability to pay its bills, investment analysts are waving the red flag.

According to Kristi Marvin, of data research company SPACInsider, “This deal has taken more left turns than a doorknob. Now, it’s just got so much hair on it.”

Writing, “Eleven months ago, Trump Media & Technology Group unveiled plans to merge with a company called Digital World Acquisition Corp. in a SPAC deal,” Harty added, “At stake for Trump and his startup — the company behind conservative social media app Truth Social — is hundreds of millions of dollars, marking the latest blow to the former president’s business empire since he left office.”

The Politico report adds that one potential investor told them on the condition of anonymity, “that they do not expect to get back into the deal, adding that they had remorse about doing it to begin with considering the former president’s involvement. The investor said that much of the interest in the deal has revolved around the economics of it, with many set to profit from huge windfalls should it go through.”

You can read more here.

News Related

OTHER NEWS

Japan Beats Spain to Win Group For First Time, Both Teams Advance

Japan and Spain both advance to the round of 16 at the 2022 FIFA World Cup Read more »

Mayoral-elect Karen Bass’ daughter ‘not seriously hurt’ in West Adams hit-and-run crash

One of Los Angeles Mayor-elect Karen Bass’ daughters was involved in a hit-and-run crash Thursday morning in L.A.’s West Adams neighborhood, Bass said in a statement. Bass, who will be ... Read more »

How much do you need to earn annually to afford a house in Los Angeles?

The annual income needed to buy a home in Los Angeles skyrocketed past $220,000, a recent study found, with higher mortgage rates and inflation cutting deeper into household incomes. That ... Read more »

Christine McVie’s greatness proved that shy girl power had a place in rock ‘n’ roll

It’s easy to take a steadying presence for granted. Steady doesn’t work as a brand, and it doesn’t compel hot takes. Instead of announcing itself to the world, steady quietly ... Read more »

Judge orders right-wing operatives who targeted Black people with robocalls to register voters in D.C.

Jack Burkman, a lawyer and Republican political operative, left, and Jacob Wohl, an internet political activist and supporter of President Donald Trump, at a news conference in 2018. (Joshua Roberts/Reuters) ... Read more »

What Is a Pergola? Plus How to Choose the Right One for Your Yard

Wondering what a pergola is used for? Here’s everything you need to know to find the right one for your outdoor sanctuary. Blaine Moats A pergola is an outdoor structure ... Read more »

Watch live: Officials give update after 5 found dead in Buffalo Grove

A bouquet of flowers outside the home, Dec. 1, 2022, where five people were found dead as a result of a “domestic-related incident” Wednesday morning in the 2800 block of ... Read more »

Leah Remini Calls for Scientology to Be Co-Defendant if Danny Masterson Is Re-Tried: 'They Obstructed Justice'

Leah Remini Calls for Scientology to Be Co-Defendant if Danny Masterson Is Re-Tried: ‘They Obstructed Justice’ Leah Remini called for Scientology to be a co-defendant if “That ’70s Show” star ... Read more »

Spain's route to 2022 World Cup final: Potential knockout games for La Roja after Group E runner-up spot

Spain’s route to 2022 World Cup final: Potential knockout games for La Roja after Group E runner-up spot Spain emerged from a strong Group E to qualify for the 2022 ... Read more »

N.J. scammer sentenced after lying to get $1.6M in COVID loans

A Somerset County man was sentenced to 46 months in prison Wednesday for fraudulently obtaining about $1.6 million in coronavirus-related loans in 2020. Jordan C. Larkins, 32, was sentenced by ... Read more »

Where to find Morocco vs. Spain on US TV

Where to find Morocco vs. Spain on US TV Here are all of the details of where you can watch Morocco vs. Spain on US television and via legal streaming: ... Read more »

Treasury watchdog finds no Trump retribution evidence in Comey, McCabe audits

Treasury watchdog finds no Trump retribution evidence in Comey, McCabe audits Audits of two top former FBI officials who became political foes of former President Trump were not the result ... Read more »

Florida QB Accused of Child Porn Had Vile Photo of Pre-Teen, Cops Say

Alachua County Sheriff’s Office The University of Florida quarterback arrested Wednesday on child porn charges allegedly shared a photo that showed a pre-teen having sex with an adult man, along ... Read more »

‘I would literally not go’: Fortune 500 company makes workers Venmo $40 to attend holiday party

TikToker Cheyenne (@cheynguyen) allegedly outed the Fortune 500 company she says her roommate works for. Cheyenne claims the company asked its employees to send them $40 if they planned on ... Read more »

Ex-Yankees Starter Expected to Sign Contract Worth More Than $56 Million in Free Agency

This MLB insider says the market for Jameson Taillon is heating up Jameson Taillon isn’t the biggest name on the open market when it comes to starting pitchers this offseason. ... Read more »

Arizona judge orders Cochise County board to certify election results after refusal

A state judge on Thursday ordered the Cochise County, Ariz., Board of Supervisors to certify the county’s vote canvass after two GOP members refused to do so over an unfounded ... Read more »

Shanquella Robinson’s mother demands charges against daughter’s six friends over mystery death in Mexico

A mother is demanding answers after the mysterious death of her daughter while she was vacationing in Mexico. Twenty-five-year-old Shanquella Robinson, of Charlotte, North Carolina, had travelled to Puerto Los ... Read more »

In closing arguments, Trump Org. lawyers blame former CFO Allen Weisselberg

Defense attorneys for the Trump Organization sought Thursday to ensure jurors in the company’s fraud and tax evasion trial walk away with one line in their heads, a sort of ... Read more »

BOP finalizes moving inmates from private prisons

BOP finalizes moving inmates from private prisons President Joe Biden ordered the move shortly after taking office. All federal inmates housed in private prisons have been moved to Bureau of ... Read more »

Greco-Roman funerary building, mummy portraits discovered in Egypt

Greco-Roman funerary building, mummy portraits discovered in Egypt The building and the paintings date back to the Ptolemaic and Roman eras. A huge 2,300-year-old funerary building and a number of ... Read more »

How major US stock indexes fared Thursday 12/1/2022

How major US stock indexes fared Thursday 12/1/2022 Stocks ended mixed after an uneven day of trading and bond yields fell broadly after the government reported that a measure of ... Read more »

Salesforce, Lands' End fall; Splunk, Synopsys rise

Salesforce, Lands' End fall; Splunk, Synopsys rise Stocks that traded heavily or had substantial price changes Thursday: Salesforce, Lands’ End fall; Splunk, Synopsys rise NEW YORK — Stocks that traded ... Read more »

EPA seeks to mandate more use of ethanol and other biofuels

EPA seeks to mandate more use of ethanol and other biofuels The Environmental Protection Agency has proposed increasing ethanol and other biofuels that must be blended into the nation’s fuel ... Read more »

Chicago Fed taps Austan Goolsbee as new president

Goolsbee an economics professor and former Obama adviser Read more »

Senate Approves SAFE-T Act Changes, Sends New Proposal to House

Illinois State Sen. Robert Peters on Wednesday filed an amendment to the act, which is set to eliminate cash bail in the state on Jan. 1, 2023 Read more »

Lindsay Lohan and Amanda Seyfried Talk ‘Mean Girls 2' Rumors

Eighteen years after the release of "Mean Girls," co-stars Lindsay Lohan and Amanda Seyfried reunited for an interview — and addressed the idea of a follow-up film. Read more »

Column: Elon Musk is on a collision course with European regulators. He’s going to lose

European Union official Thierry Breton wasted little time before warning Elon Musk, then the new owner of Twitter, that he would be closely scrutinized by EU regulators. Musk tweeted on ... Read more »

"Donald Trump has finally run out of places to hide" as House Dems get tax returns

Donald Trump Donald Trump J. Scott Applewhite – Pool/Getty Images The Democratic-controlled U.S. House Ways and Means Committee on Wednesday received six years of former President Donald Trump’s federal tax returns, ... Read more »

Belgium leaves the World Cup with a draw that will haunt one of its stars

Belgium leaves the World Cup with a draw that will haunt one of its stars RAYYAN, Qatar — It would overstate it to say the bones in the match at ... Read more »

Florida QB Jalen Kitna set to be released on bond as details of child pornography case emerge

Florida QB Jalen Kitna set to be released on bond as details of child pornography case emerge GAINESVILLE, Fla. — Florida backup quarterback Jalen Kitna was expected to be released from ... Read more »

Congo military accuses M23 rebels of killing 50 civilians

Congo military accuses M23 rebels of killing 50 civilians Congo’s military is accusing the M23 rebels of breaching a cease-fire with an attack that killed at least 50 people earlier ... Read more »

Supreme Court agrees to hear arguments on Biden's student loan plan, closing in on a resolution

WASHINGTON – The Supreme Court on Thursday agreed to hear oral arguments about President Joe Biden’s student loan forgiveness program, an important step toward resolving a months-long legal battle over whether the administration ... Read more »

Former Florida attorney indicted for racketeering relating to operation of Tallahassee law firm

WCTV TALLAHASSEE, Fla. – A federal grand jury has returned a one-count indictment charging Phillip Timothy Howard, 61, of Tallahassee, Florida, with racketeering.  The indictment was announced by Jason R. ... Read more »

I’m a new mother, and can’t afford to pay $400 to attend a friend’s bachelorette party. Another friend backed out. Should I reconsider?

I’m a new mother, and can’t afford to pay $400 to attend a friend’s bachelorette party. Another friend backed out. Should I reconsider? THE MONEYIST Dear Quentin, We have a ... Read more »

Celtics Star Jayson Tatum Just did Something not Even Stephen Curry Could do

Jayson Tatum certainly has proven that he is one of the best players in the NBA. The Boston Celtics star has done a little bit of everything since being drafted ... Read more »

The Ultimate Betrayal: Amy Robach's Husband Andrew Shue Helped 'GMA' Star Through Cancer Before Her Affair With Co-Host T.J. Holmes

Mega Years before her alleged months-long affair with T.J. Holmes was exposed, Good Morning America host Amy Robachleaned on her husband, actor Andrew Shue, who helped her through breast cancer, ... Read more »

OnPolitics: Adam Frisch saw an opportunity to defeat Lauren Boebert. He nearly did it.

This combo image shows Democratic candidate for Colorado’s 3rd Congressional District Adam Frisch, left, and U.S. Rep Lauren Boebert, R-Colo., right. Happy December, OnPolitics readers! Winter beckons but we never cool ... Read more »

Watch: Japan get massive boost from controversial goal call

Japan’s Kaoru Mitoma (left) crosses the ball before teammate Ao Tanaka (not pictured) scores their side’s second goal of the game during the FIFA World Cup Group E match at ... Read more »

Chicago Fed names ex-Obama adviser Goolsbee as next leader

Chicago Fed names ex-Obama adviser Goolsbee as next leader Austan Goolsbee, who was a top economic adviser to President Barack Obama, has been chosen as the next president of the ... Read more »

Fauci Says China Has Done a Bad Job of Vaccinating the Elderly and Their Shots Are Not Very Effective Against Covid

“The vaccination of elderly has not been well performed and the vaccine they have has been not a particularly effective vaccine,” Dr. Anthony Fauci told The Washington Post. Fauci criticized ... Read more »
Breaking thailand news, thai news, thailand news Verified News Story Network