(Reuters) – Former President Donald Trump’s new social media venture Trump Media & Technology Group and Digital World Acquisition Corp. said it has entered into subscription agreements to raise about $1 billion from a group of investors.
DWAC said it will provide up to $293 million to the partnership with Trump’s media venture, taking the total proceeds to about $1.25 billion.
Reuters had exclusively reported on Wednesday that the social media venture was seeking to raise up to $1 billion by selling shares to hedge funds and family offices.
(Reporting by Juby Babu in Bengaluru; Editing by Daniel Wallis)
