The company merging with Donald Trump’s social media platform Truth Social with plans to take it public warned investors about Trump’s past business failings, The Hill reports.
Digital World Acquisition Corp (DWAC) and Trump Media & Technology Group (TMTG) also warned investors that the Securities and Exchange Commission could still block the merger.
“A number of companies that were associated with President Trump have filed for bankruptcy,” the registration filing warns, listing as examples Trump Shuttle, University, Vodka, Mortgage and Steaks. They also warned that Trump is “involved in numerous lawsuits and other matters that could damage his reputation.”
The groups also said that Trump is “generally obligated” to post on Truth Social and “not make the same post on another social media site for 6 hours,” except for “political messaging, political fundraising or get-out-the-vote efforts.”