GOP Rep. Meuser urges SEC to consider Truth Social, Digital World merger

Pennsylvania Republican Rep. Dan Meuser on Thursday urged the Securities and Exchange Commission (SEC) to quickly consider the long-delayed Trump Media & Technology Group merger with Digital World Acquisition Corp.

DWAC is a special purpose acquisition company (SPAC), a firm created for the explicit purpose of merging with another to enable listing on a stock exchange. TMTG, which controls Truth Social, has attempted to merge with Digital World so as to go public and raise capital to finance a major expansion.

The merger, however, has long struggled under SEC scrutiny, prompting accusations of deliberate political inference from Truth Social's leadership, who have pointed to the litany of pro-Joe Biden figures at the federal regulator.

Meuser, for his part, urged SEC Chairman Gary Gensler to consider the latest filing from both companies, saying "[t]he SEC’s mission is to protect investors, maintain fair and orderly markets, and facilitate capital formation. We must now see this mission in action through the expedient handling of this matter."

"The prolonged uncertainty the SEC created through extensive delays which characterized the DWAC situation is counterproductive for all parties involved," he continued.

"In short, we urge the SEC to prioritize the review process for DWAC's S-4 filing," he concluded. "A timely resolution is in the best interest of all investors and the markets at large. We anticipate a prompt response and resolute action."

TMTG and Digital World announced in mid-November that they had refiled their S-4 registration statement, marking a "crucial milestone" in merger process.

"Our teams have worked tirelessly to reach this stage, and this achievement reflects their dedication and expertise. We are excited to continue our collaboration with TMTG to bring this merger to fruition," DWAC CEO Eric Swider said at the time.

Ben Whedon is an editor and reporter for Just the News. Follow him on X, formerly Twitter.