The Mudcat Café TM
Thread #168285   Message #4145682
Posted By: Stilly River Sage
27-Jun-22 - 06:42 PM
Thread Name: BS: Trump Actions & Effects (NO new Trmp threads!)
Subject: RE: BS: Trump Actions and Effects
Today the January 6 Committee scheduled a hearing for tomorrow to interview and release information they recently obtained. That should be interesting.

And as far as Trump's actions, it seems he's having trouble getting his social media platform off the ground, what with all of the subpoenas being sent to his proposed business partners. Grand Jury Subpoenas Could End Trump’s Plans for Truth Social
The shell company attempting to take Trump's digital media venture public said new subpoenas and a prolonged investigation could delay or kill the deal.
DWAC added that investigators sought out “various documents and information,” including items reflecting DWAC due diligence in relation to Trump Media & Technology Group as well as other companies DWAC potentially targeted. DWAC claims the subpoenas sent to its individual members asked for similar types of documents in addition to requests for information involving DWAC’s S-1 filings and information regarding the firm Rocket One Capital. If the Southern District of New York sounds familiar, that’s probably because the Manhattan district attorney, a former prosecutor in the Southern District, has his own criminal investigation into Trump ongoing.

All told, DWAC said the slew of subpoenas and ever-growing investigation could throw a wrench in its plans and delay or even kill its merger with TMTG.

If that happens, Trump could be forced into the uncomfortable position of shopping around for new SPAC suitors. That wouldn’t have stung so much last year or in 2020 when new SPACs were seemingly popping up around every corner, but changing market trends and threats of regulations have reportedly made the merger technique much less palatable on Wall Street of late.

“Last year was one of the best years in terms of SPACs,” former investment bank analyst Gary Stein told the New York Times earlier this month. “This year is probably one of the more difficult ones for me to navigate.”