Max KennerlyFeb 27, 2024

Quite the indictment of our financial system that there's nearly $4 billion in capital tied up in a shell company that is going to merge with the money-losing social network run by the insurrectionist conman who keeps racking up hundreds of millions in court judgments against him.

(gift link)

https://www.nytimes.com/2024/02/26/business/trump-media-digital-world-acquisition-cash.html?unlocked_article_code=1.Yk0.6qm7.k4vMS2dLR6_8&smid=url-share

Trump Media’s Impending Merger May Give Him a Financial Lifeline

The deadline for the former president to pay a $454 million civil fraud penalty coincides with the expected closing of a deal involving his social media platform, Truth Social.

The New York Times
Show threadShmock
@maxkennerly Thus will be the first time in history that one of these equity mergers benefits the acquires entity. They usually just suxk out all the assets and leave it floundering.
Feb 27, 2024 at 4:53pmMastodon for Android