Donald Trump's media company deal is being investigated by securities regulators.

[dalton99a]

17. Shady as shit

In the coming months, Trump Media & Technology Group would have to disclose its ownership structure and business information before the deal closes. Little is known about the new company and its social-media platform Truth Social.

The $1 billion in PIPE commitments still put the company among a select group of companies that choose to go public through SPACs. Only a few well-established companies, including Southeast Asian app operator Grab Holdings Ltd., electric-vehicle maker Lucid Group Inc., and personal-finance app operator SoFi Technologies Inc. have raised at least that amount.

The SEC has ramped up scrutiny of SPAC deals in recent months amid concerns that such mergers disproportionately benefit insiders through unique incentives at the expense of other investors.

Such mergers have exploded as alternatives to traditional initial public offerings in the past year, in part because they allow companies going public to make business projections that aren’t allowed in IPOs.

https://www.wsj.com/articles/trump-social-media-spac-deal-being-investigated-by-sec-11638807224