New York: US regulators examined the agreement between social media companies are still young Donald Trump and investment vehicles to bring former president venture into the stock market, the document showed Monday.
The company, which once joined, said they plan to launch a social media platform “Social True” nationwide early next year, hoping to rival services like Twitter, which prohibits the Capitol Riot Trump during January.
Digital World Acquisition Corp (DWAC), which partnered with Trump, which was reported in the filing of the US market, the Securities and Exchange Watchdog that he received “initial questions, find the facts from the regulatory authorities, working together.” Digital World, which is already listed on Wall Street, announced in late October will be joining Trump Media & Technology Group (TMTG), which enables businesses to be registered without the former President of the usual procedure.
In a joint statement, the two companies announced on Saturday that a group of institutional investors are committed to contribute $ 1 billion for the transaction.
They did not specify Monday in a regulatory document the investor’s identity.
Digital World said the SEC was looking for details of board meetings, procedures broker, investor identity and certain transactions with companies Trump.
Financial Industry Regulatory Authority, for its part, asked for information about the activities of DWAC shares before the official announcement TMTG agreement on 20 October.
“The investigation does not mean that the SEC has concluded that anyone broke the law or that the seconds had a negative opinion about the DWAC or person, event, or security,” said archiving digital world.
Stock down three percent at around 1645 GMT on Wall Street.
Digital World is a special purpose acquisition company (SPAC), sometimes called the company “Suitcase Check” as arranged with the sole aim of merging with another entity.
Trump said the new platform will be an alternative to Silicon Valley Internet company said bias against him and other conservative voice.
75-year-old was thrown from Twitter – the preferred communication channel while the president – as well as Facebook and YouTube after the uprising on January 6 at which the hordes of supporters Trump, composed by repetitive false claims in November 2020 was stolen from him, attacking the US Capitol.
It is currently available for pre-order on the App Store, which is expected to be released is set for the first quarter of 2022.