President Trump’s media company said it is in discussions to spin off businesses, including social-media platform Truth Social, into a new publicly traded company following the close of its previously announced merger with TAE Technologies.
In a potential transaction, shares of the newly formed company would be distributed to Trump Media and Technology shareholders of record prior to the closing of the TAE merger, the companies said Friday.
The newly formed company would then merge with Texas Ventures Acquisition III, a special purpose acquisition company.
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