12/6/2021, 4:20 PM (Source: TeleTrader)
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SEC, FINRA probe Trump-linked SPAC

Digital World Acquisition Corp., a special purpose acquisition company (SPAC) which planned to merge with former United States President Donald Trump's media company, said on Monday it has received requests for information from the US Securities and Exchange Commission (SEC) and the country's Financial Industry Regulatory Authority (FINRA).

In a regulatory filing, the SPAC explained that the watchdogs asked for information regarding the trading and communications with Trump's firm before the merger deal was finalized.

A day ago, Trump claimed that his company, named The Trump Media & Technology Group, has raised about $1 billion as a part of its plan to go public.

Baha Breaking the News (BBN) / BU