Donald Trump

TinFoilHat said:
news.sky.com

Donald Trump's social media company set to go public - potentially netting him $3bn

The former US president is grappling with a number of legal cases against him - including the fallout from a $454m judgement in a civil fraud case in New York.
news.sky.com news.sky.com
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Important information regarding the potential merger and it's impact on Trump's current financial woes.

"Meanwhile, Digital World's former CEO Patrick Orlando, and former Trump business associates Andy Litinsky and Wes Moss have separately sued to block the merger.

They have argued they were entitled to more shares for their previous work on the deal and it isn't clear when these cases will be resolved.

Even if the deal gets completed next week, Mr Trump will not be allowed to sell any of his shares, or borrow against them, due to a "lock-up" provision that prevents company insiders from selling newly issued shares for six months."

For those unfamiliar with SPACs or these types of mergers, this is a near universal provision and breaking it would almost assuredly lead to more very expensive litigation for Trump (which he would most assuredly lose, at further cost).

It is also worth noting that, although he is not supposed to be able borrow against potential value of the majority stake in the SPAC (functionally only present in the event of such an approved and completed merger), that does not mean he has not done so in violation of regulations and the 'lock-up' provision. And given his normal modus operandi, I don't think it would be unreasonable to entertain the possibility.

Which means not all of the windfall he may potentially receive from the merger--and initial public listing on the exchange of his media company, which is most assuredly to be almost immediately substantially devalued based on its actual performance and general profit-taking from the majority of current DWAC shareholders, who are primarily speculators--could be available to him to cover the ongoing judgements and costs of litigation, much less to continue to bank roll his campaign.
 
Gareth Barry Conlon said:
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There is a reason his legal team is a revolving door of grifters and hitherto fringe ambulance chasers: he is the poster child for an incompetent and, quite often, oppositional client, and he rarely if ever actually ends up paying his counsel.

His current lineup will soon have the same realisation (and their own legal issues, in the case of Habba) as his previous gullible and desperate selections.
 
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