Employees of a Miami investment firm were made aware of a pending merger deal between former President Donald Trump’s social media company and a blank-check entity, long before it was announced, the New York Times reported on Monday, according to three people familiar with the discussion. Said citing.
Executives at the firm, Rocket One Capital, spoke at the time about ways to profit from the soon-to-be-announced transaction with Trump Media & Technology Group by investing in SPAC, Digital World Acquisition Corp., NYT cited two Told. of people.
Federal prosecutors and regulators are now investigating the merger, including the frenzied trading in SPAC’s warrant, the report said, citing people familiar with the investigation and public disclosures.
Trump Media & Technology Group, maker of social media platform Truth Social, agreed to merge with Digital World on October 20, and the deal was expected to close by the second half of this year.
Shares of Digital World climbed up to 350 per cent a day after the deal went public.
Trump Media and Rocket One Capital did not immediately respond to Reuters requests for comment.
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