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Trump Media Explores Truth Social Spinoff
28 Feb
Summary
- Trump Media is discussing a Truth Social business spinoff.
- The new company would merge with a special purpose acquisition company.
- No definitive agreement has been reached in ongoing discussions.
Trump Media & Technology Group (TMTG) has entered into discussions regarding a significant corporate restructuring. The company is exploring the possibility of spinning off its businesses, including the social media platform Truth Social, into a new publicly traded entity.
Under the proposed plan, this new company would merge with a special purpose acquisition company (SPAC). Eligible TMTG shareholders would receive shares in this newly formed entity. These discussions are ongoing, and TMTG has emphasized that no definitive agreement has been finalized.
This potential move follows a December agreement where TMTG consented to merge with TAE Technologies. This prior merger was valued at over $6 billion and signaled a strategic pivot towards fusion energy development. TAE Technologies, a California-based private firm, focuses on advanced nuclear fusion technology designed to produce electricity with reduced radioactive waste.
