Trouble for Trump’s Truth Social as investors back away from cash boost
by Nina Lakhani and agencies from on (#63AAE)
Injection of $1.3bn for former president's media company looks set to be derailed because of lackluster investor support
Donald Trump's beleaguered social media company is facing further financial turmoil after a long-awaited $1.3bn cash injection looks set to be derailed due to lackluster investor backing.
Shareholders of the special purpose acquisitions firm, which last year brokered a deal to take the Trump Media and Technology Group public, have not backed a one-year extension to complete the transaction, which threatens to spoil the merger.
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