The SEC had made inquiries of the acquiring corporation last December about its anticipated merger with Trump Media & Technology Group.
Digital World Acquisition Corp said in the filing that these requests could “delay the effectiveness of the Registration Statement, which could materially delay, impede or prevent consummation of the business combination.” This means that they could go back on the agreement that Trump made last October.
Truth Social launched to the general public in February on the App Store, but many people had trouble getting onto the social network, with waiting lists of up to 100,000 users. In May, the company released a web app, but there is no Android version in sight.
Trump currently has more than 3 million followers on Truth Social, which is far less than the more than 88 million he had on Twitter when he was banned from the platform last year.
In particular, the former US president has a special agreement with Truth Social, which prohibits him from posting anything on other social networks for six hours. So even if Elon Musk lifts Trump’s ban after he takes over Twitter, the account will likely repost Truth Social content after a delay.
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