Trump's media deal partner nears $50 million financing -sources
08/02/2024 20:20
By Anirban Sen
Feb 8 (Reuters) - Digital World Acquisition Corp
DWAC.O , the blank-check acquisition company that has agreed to
take former U.S. President Donald Trump's social media platform
public, is nearing a $50 million financing deal, people familiar
with the matter said on Thursday.
The deal, which could be announced in the next few days, is
based on convertible notes and will help fund DWAC while it
seeks to complete its merger with Trump Media & Technology Group
(TMTG), owner of social media platform Truth Social, the sources
said.
Investment firms Anson Funds, All Blue Capital and Mangrove
Capital Partners have offered to buy the convertible notes on
offer, the sources added, cautioning that the timing and
composition of the deal may still change.
The sources requested anonymity because details of the deal
discussions are confidential. DWAC Chief Executive Eric Swider
declined to comment. Representatives for Anson Funds, All Blue
Capital and Mangrove Capital Partners did not immediately
respond to requests for comment.
(Reporting by Anirban Sen in New York; Editing by Mark Porter)
((Greg.Roumeliotis@thomsonreuters.com; +1 646 223 6022; Reuters
Messaging: greg.roumeliotis.thomsonreuters.com@reuters.net))