The special purpose acquisition company, or SPAC, that announced plans to merge with former President Donald Trump’s new social media company is under investigation by federal regulators, the company disclosed on Monday.
The SPAC, Digital World Acquisition Corp., disclosed the investigation in a filing with the Securities and Exchange Commission.
“DWAC has received certain preliminary, fact-finding inquiries from regulatory authorities, with which it is cooperating,” the company said.
It added that in late October and early November, the Financial Industry Regulatory Authority requested information “surrounding events (specifically, a review of trading) that preceded the public announcement of” the SPAC’s merger with Trump’s company, Trump Media & Technology Group.
Source: Will Feuer, nypost.com/2021/12/06/trump-spac-under-investigation-by-feds-sec/