This looks to be a major victory in former President Donald Trump’s ongoing lawfare issues; shareholders of Digital World Acquisition Corporation have approved a merger with the President’s Truth Social media operation. This could result in as much as a $3.9 billion addition to Trump’s bank balance.
The long-delayed merger between the blank check company and Trump Media & Technology Group received regulatory approval from the Securities and Exchange Commission (SEC) last month.
Trump stands to make about $3.9 billion from the deal, given the nearly 79 million shares he would control in the newly merged company.
The stock has whipsawed in value throughout Friday after opening at roughly $44 per share, rising as high $46.70 and falling as low as $38.12 before settling near $41 shortly before noon.
This is a clear break in Donald Trump’s favor and could change things up in the ongoing lawfare, most specifically in the bogus claims filed by NY AG Letitia James. But it may not help him in the short term, with the open $464 million judgment against him in the NY civil fraud case; as Trump won’t be able to access this windfall for some time:
Despite the potential windfall coming his way, Trump won’t be able to immediately access the money, due to a provision that prevents insiders from selling new shares for six months.
While this is a good thing in the long run (I would presume it is; when Truth Social went live, I went to sign up, and they required a phone number, I’m not giving them that, so I’m Truth-Social-free) it’s not going to help former President Trump in his ongoing (B.S.) criminal trials, but it’s nevertheless good news.
Of course, there’s more good news for the Trump campaign today.
This is the most interesting presidential campaign, I must say, since at least 1980 – my first election cycle in which I was eligible to vote. I even worked as a Reagan campaign volunteer in that election, although admittedly all I did was hand out pamphlets and bumper stickers. What we are seeing here is unprecedented – not only the lawfare, not only the 14th Amendment claims, not only the frantic ranting among Democrats and the legacy media (but I repeat myself) but just the outright, visceral hatred aimed at Donald Trump. It’s baffling. It’s confounding. It’s not going away.
It’s a long way to November, but if things unfold as we hope they will, with a Trump victory, expect things to get very, very interesting
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