Trump deal could spark SPAC crackdown - 2021-11-18

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F0.png Trump deal could spark SPAC crackdown November 18, 2021, Dan Primack, Axios

Donald Trump was president when SPACs stopped being a cottage industry and instead became Wall Street waterfront. Now he might be indirectly responsible for reining in some SPAC excesses.

Driving the news: Sen. Elizabeth Warren (D-Mass.) Wednesday sent a letter to Securities and Exchange Commission chair Gary Gensler, asking his agency to investigate the proposed merger between Trump's amoebic social media company and a SPAC called Digital World Acquisition Corp.

She's particularly interested in a NY Times report that Digital World's chair and CEO Patrick Orlando held talks with Trump before the SPAC filed for its IPO in May or priced it in September. Those discussions apparently were related to a proposal that Axios scooped in April.

Wikipedia cite:
{{cite news | first = Dan | last = Primack | title = Trump deal could spark SPAC crackdown | url = https://www.axios.com/trump-deal-could-spark-spac-crackdown-1c41ca5d-62fd-4882-80af-e253838be846.html | work = Axios | date = November 18, 2021 | accessdate = November 30, 2021 }}