Some investors backing out of SPAC merging with Trump’s media firm

Some investors backing out of Digital World Acquisition Corp’s plan to acquire Trump’s social media firm Truth Social. Digital World said it had received termination notices from private investment in public equity (PIPE) investors ending nearly $139 million in investments. The blank-check firm did not disclose the investors that pulled out. The deal between the SPAC and Trump Media and Technology Group (TMTG), which owns Truth Social, has been on ice due to civil and criminal probes into the circumstances around the agreement. More investors could pull out in the next few weeks, sources said, as they can terminate anytime after the September 20, 2022 deadline if the deal has not completed. The SPAC had hoped the U.S. Securities and Exchange Commission had been hoping the . . .