According to a filing with the Securities and Exchange Commission (SEC) by Digital World Mergers and Acquisitions, “While we are making every effort to complete the business combination as quickly as possible, our Board of Directors believes that there is insufficient time at this time.” It is understood that the original deadline for completing the merger was September 8, 2022, and the Digital World M&A Company is currently trying to delay that date by 12 months.
The announcement comes as U.S. regulators are investigating the proposed merger.
It is understood that in June this year, “Digital World M&A” said that all board members of the company had received subpoenas from a grand jury in federal court in New York, and the SEC and the Financial Industry Regulatory Authority asked them to Provide more information about the deal.
