Trump media deal partner DWAC nears $50 million financing, sources tell Reuters

In this photo illustration, Digital World Acquisition Corp (DWAC) logo is seen on a smartphone and Trump Media & Technology Group (TMTG) logo on a pc screen.

Pavlo Gonchar | SOPA Images | Lightrocket | Getty Images

Digital World Acquisition Corp., the blank-check acquisition company that has agreed to take former U.S. President Donald Trump’s social media platform public, is nearing a $50 million financing deal, people familiar with the matter said on Thursday.

The deal, which could be announced in the next few days, is based on convertible notes and will help fund DWAC while it seeks to complete its merger with Trump Media & Technology Group, owner of social media platform Truth Social, the sources said.

Investment firms Anson Funds, All Blue Capital and Mangrove Capital Partners have offered to buy the convertible notes on offer, the sources added, cautioning that the timing and composition of the deal may still change.

The sources requested anonymity because details of the deal discussions are confidential. DWAC Chief Executive Eric Swider declined to comment. Representatives for Anson Funds, All Blue Capital and Mangrove Capital Partners did not immediately respond to requests for comment.

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