Story · October 8, 2022

Truth Social’s merger clock was still running on Oct. 8

Truth Social wobble Confidence 5/5
★★☆☆☆Fuckup rating 2/5
Noticeable stumble Ranked from 1 to 5 stars based on the scale of the screwup and fallout.
Correction: Correction: Digital World Acquisition Corp. announced on Oct. 10, 2022, that its special meeting was further adjourned to Nov. 3, 2022. The meeting had been set for Oct. 10 before that change.

On Oct. 8, 2022, Truth Social was still online and the Trump media deal was still alive. What had not happened yet was the next step in the merger timetable: Digital World Acquisition Corp.’s shareholder vote on whether to extend the deadline for closing its deal with Trump Media & Technology Group. The calendar was still moving, and the final date had not yet been reset to Nov. 3. citeturn0search0turn0search1

The sequence matters. Digital World had initially scheduled the special meeting for Sept. 6, 2022, then adjourned it to Sept. 8 and again to Oct. 10. Only on Oct. 10 did the company further adjourn the meeting to Nov. 3. So on Oct. 8, the vote was still pending, not already locked into a November date. citeturn0search1turn0search2

The filings also show what the vote was about: a proposed amendment that would give Digital World up to 12 more months to complete an initial business combination, potentially extending the deadline to Sept. 8, 2023. That was the practical issue hanging over the Truth Social transaction. The app existed, the merger structure remained in place, and the company still needed shareholders to buy more time. citeturn0search0turn0search2

That leaves the cleaner read for Oct. 8: not collapse, not closure, just a stalled process with another deadline still ahead. Truth Social was operating, but its path to a public listing was still tied to a vote that had not yet happened. Two days later, the company would push that vote to Nov. 3. citeturn0search1turn0search2

Support the work

Help keep this site going

If this story was useful, help support The Daily Fuckup. Reader donations help pay for hosting, archives, publishing, email, and AI costs.

Donate

Read next

Reader images

Upload a relevant meme, screenshot, or photo. Automatic review rejects spam, ads, and unrelated junk. The top-rated approved image becomes the story's main image.

Log in to upload and vote on story images.

No approved reader images yet. Be the first.

Comments

Threaded replies, voting, and reports are live. New users still go through screening on their first approved comments.

Log in to comment


No comments yet. Be the first reasonably on-topic person here.