The SEC is probing Digital World Acquisition Corp. — the publicly traded special purpose vehicle that plans to merge with former president Donald Trump’s social media startup.
Vice Media Group’s plans to go public through a nearly $3 billion merger with a blank-check firm would leave existing investors with control of the company and remove Vice’s onerous financial obligations to private-equity firm TPG, according to people familiar with the matter. The blank-check firm, 7GC & Co. Holdings, is preparing to pitch institutional investors on the deal beginning this week, the people said. Company investors — including Disney, A&E Networks and TPG — would remain shareholders under the proposed structure.
