(Bloomberg) — A federal grand jury is seeking information from Trump Media & Technology Group about its planned merger with Digital World Acquisition Corp., according to a filing from the blank-check firm.
Digital World said that it found out Thursday that the panel in the Southern District of New York had demanded TMTG turn over documents related to the planned combination.
The Securities and Exchange Commission issued a subpoena for similar information earlier in the week, the special purpose acquisition company said in a Friday filing.
The blank-check company said that the grand jury is also seeking information from certain current and former TMTG personnel — adding to the scrutiny facing those involved in the high-profile bid to take the former president’s social-media company public.
Digital World said in a filing dated late last week that the firm and its board members had been subpoenaed.
“TMTG is expanding and enhancing Truth Social, with a major update to the platform scheduled for next week,” Trump Media said in a statement Friday.
“TMTG will continue cooperating fully with inquiries into our planned merger and will comply with subpoenas we’ve recently received, none of which were directed at the company’s chairman or CEO.”
Representatives for Digital World didn’t immediately respond to requests for comment.
From the start, the planned tie-up has been a lightning rod.
Senator Elizabeth Warren, a Massachusetts Democrat, has called on the SEC to investigate parties to the deal over reports that they may have skirted securities rules by holding undisclosed conversations.
Digital World said the subpoenas and probes by the SEC and Justice Department “could materially delay, materially impede, or prevent the consummation of the business combination.”
(Updates with Trump Media statement in fourth paragraph.)
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