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Previous SPAC ventures involving Trump Media executives faced significant regulatory and legal challenges

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Digital World was forced to admit that two years’ worth of financial statements were unreliable and that it was at risk of being delisted from Nasdaq for failing to file a mandatory report; and Digital World agreed to pay the SEC $18 million to settle fraud charges for “making material misrepresentations” in its filings for entering merger discussions with Trump Media prior to its IPO.
But the deal wasn’t approved until March 2024. In the intervening 29 months, the SEC charged a former Digital World board member and two others with insider trading related to the company (the board member was later found guilty, while the two other people pleaded guilty);

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