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Global IR firm MZ Group is handling news that Trump Media & Technology Group and Digital World Acquisition Corp. have lined up $1B in PIPE (public investing in public equity) financial commitments from unidentified investors upon comsummation of their SPAC deal.
“One billion sends an important message to Big Tech that censorship and political discrimination must end,” Donald Trump, chairman of TMTG, said in their Dec. 4 release.
Trump added that once TMTG’s strengthens its balance sheet, it “will be in stronger position to fight back against the tyranny of Big Tech.”
DWAC on Dec. 6 disclosed in a Securities and Exchange Commission that US regulators are investigating the SPAC deal with Trump.
FINRA, the broker deal watchdog, has requested information about trading that was made ahead of the Oct. 20 SPAC announcement. “The inquiry should not be construed as an indication that FINRA has determined that any violations of Nasdaq rules or federal securities laws have occurred, nor as a reflection upon the merits of the securities involved or upon any person who effected transactions in such securities,” DWAC said.
The SEC in early November asked DWAC for “documents relating to meetings of DWAC’s board of directors, policies and procedures relating to trading, the identification of banking, telephone, and email addresses, the identities of certain investors, and certain documents and communications between DWAC and TMTG.”
That investigation “does not mean that the SEC has concluded that anyone violated the law or that the SEC has a negative opinion of DWAC or any person, event, or security,” explained DWAC.
TMTG announced Dec. 6 that California Republican Congressman Devin Nunes, an ardent support of the former president when he chaired the House Intelligence Committee, will become CEO in January.
Sao Paulo-based MZ has more than 200 staffers in Chicago, New York, San Diego, and Taiwan.
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