“Big investors are starting to eye the exits on the $1.3 billion bid to take former President Donald Trump’s new social media startup public,” Politico reports.
“The hedge funds, trading firms and other major backers are questioning whether the financial riches that first attracted them to the transaction are still strong enough to hold their interest in a deal fraught with troubles… Negotiations have been ongoing as some investors seek bigger potential profits in exchange for following through on commitments to put hundreds of millions of dollars into the venture, which planned a public stock exchange listing through a special purpose acquisition company, or SPAC.”
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