Wall Street watchdogs probe Trump media firm deal
At the weekend the Trump Media and Technology Group said it had secured $1bn of investment. …
Spacs, which became a major story in the US stock market at the start of this year, are shell companies that are set up with the sole purpose of merging with a private firm to take it public. However, they have lost much of their lustre after some of the companies that merged with them failed to deliver on their ambitious financial projections.
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