Truth Social SPAC Down, Kemp To Testify


Welcome to the Checks & Imbalances newsletter. Today we look south to Florida and Georgia.

Truth Social SPAC Down 9% As Trump Denies Reports Of Financial Trouble

“Shares of Digital World Acquisition Corp (DWAC), the blank check company with plans to take former President Donald Trump’s media site Truth Social public, fell 9% Monday morning after Trump denied recent reports the company is struggling financially and owes more than $1 million in unpaid fees to a conservative vendor,” reports Madeline Halpert:

In a post on Truth Social Saturday, Trump claimed the “Fake News Media is devastated by how well TRUTH is doing,” so they are “working overtime to criticize and demean it,” after several outlets reported the company is facing financial woes, including owing one of its vendors, RightForge, a company that provides internet hosting services for conservative…

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