The merger between a Miami-based investment company and former President Donald Trump’s media firm remained uncertain Monday, when a critical shareholder vote on a deadline extension was put on hold.
Patrick Orlando, CEO and chairman of Digital World Acquisition Corp., said he delayed the vote until Nov. 3 so stockholders in the publicly traded company have more time to consider a year-long extension that would allow more time for federal regulators to review the merger with Trump Media & Technology Group. The regulatory extension is considered crucial to Trump’s goal to create a Florida-based social-media platform as a conservative alternative to Twitter.
“We are working diligently to record all the votes that are continuing to come in from our stockholders and are adjourning this meeting to provide additional time for stockholders to cast their votes,” Orlando said during a webcast and audio conference of Digital World’s shareholder meeting.
