Digital World needed 65 percent of its shareholders to vote in support of giving the merger with Truth Social another year. But not enough voted by Thursday's deadline and it was unclear what the next step would be.
Digital World needed 65 percent of its shareholders to vote in support of giving the deal another year. But not enough voted, Orlando said.Orlando and other investors had campaigned heavily in recent days to marshal enough shareholder support, including on Truth Social, a Twitter clone that has faced technical issues and low activity in the more than six months since its launch.
The meeting had originally been called for Tuesday but was postponed so the company could record more votes, Orlando said. On Thursday, the meeting was postponed another two times before Orlando spoke at 5 p.m., saying the meeting would be postponed once again until Oct. 10.Digital World’s share price increased about 1 percent on Thursday, to $23, and fell in after-hours trading following the postponement.
South Africa Latest News, South Africa Headlines
Similar News:You can also read news stories similar to this one that we have collected from other news sources.
Space expert reveals Guinness World Records of the universe | Digital TrendsA space expert has taken GuinnessWorldRecords beyond its own neighborhood to highlight some amazing facts and figures that exist in the rest of the universe.
Read more »
Ether rallies, Coinbase backs Tornado Cash suit, and businesses await The Merge: CNBC Crypto WorldCNBC Crypto World features the latest news and daily trading updates from the digital currency markets and provides viewers with a look at what's ahead with high-profile interviews, explainers, and unique stories from the ever-changing crypto industry. On today's show, Diogo Monica, co-founder and president of Anchorage Digital, discusses how institutional investors are thinking about The Merge.
Read more »
Justin Bieber suspends world tour due to health issuesThe singer has posted on Instagram saying he is taking a break to 'make my health a priority'.
Read more »
'The very spirit of Great Britain:' World reacts to Queen Elizabeth II's deathWorld leaders and royalty are paying tribute to Queen Elizabeth II after her death at age 96.
Read more »
Most don't know life without Queen Elizabeth II — how will the world cope without her?“I think this will be an international trauma that’s going to last for probably months and years,” one history professor predicted of Queen Elizabeth II’s passing.
Read more »