"Trump's Truth Social Merger Approved, DWAC Stock Shares Close 14% Down"

Investors in a blank-check acquisition company have approved a merger with former U.S. President Donald Trump's social media firm, valuing his majority stake in Truth Social at about $3.3 billion. The deal, currently worth about $5.7 billion, could provide financial relief as Trump faces legal challenges. However, the deal's future is uncertain due to lawsuits and restrictions on Trump's shares. The merger is set to deliver a $300 million cash infusion to Trump Media & Technology Group, but the company has been funding itself through borrowing. Despite the approval, Digital World's shares tumbled over 10%, and the combined company's valuation would be less than half of Elon Musk's social media company X.