According to the New York Times, Digital World Acquisition Corp. was incorporated in Miami, Florida, in December 2020 — a month after Trump lost the election.
The company, owned by CEO Patrick F. Orlando, filed for initial public offering at some point last spring, and in September raised approximately $282 million, according to an SEC filing, from that IPO.
An additional $11 million was raised from selling to private investors. The company is backed by several big hedge funds that own significant percentages.Trump said in a statement on Saturday: “$1 billion sends an important message to Big Tech that censorship and political discrimination must end.
Read more on thewrap.com
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