Investors warned of Trump’s past failures

The company merging with Donald Trump’s social media company to take it public in a filing Monday warned about the former president’s previous failed business ventures.

 

In the registration filed by Digital World Acquisition Corp (DWAC) — a special purpose acquisition company that has raised over $1 billion — and Trump Media & Technology Group (TMTG), the groups also warned that the Securities and Exchange Commission could still halt the merger.

 

The merger document, known as an S4, details several risks related to Trump’s chairmanship of TMTG.

 

“A number of companies that were associated with President Trump have filed for bankruptcy,” the document warns, listing Trump Shuttle, Trump University, Trump Vodka, Trump Mortgage and Trump Steaks.

 

The filing noted the former president is “generally obligated” to post on Truth Social, where he has roughly 2.7 million followers, and “not make the same post on another social media site for 6 hours.”