The SPAC that is trying to float former President Donald Trump’s media company, Digital World Acquisition Corp., postponed its shareholder meeting until Oct. 10 to allow voting to continue on the merger’s delay.

The meeting had already been postponed by DWAC on Tuesday and again earlier in the day. The transaction was given a Thursday deadline. The outcome of the vote might determine whether or not Trump Media and Technology Group will be publicly traded and get a $1.3 billion financial inflow from DWAC’s initial public offering.

The built-in, three-month extension was started by ARC Global Investments II, a business owned by DWAC CEO Patrick Orlando, according to DWAC’s confirmation on Thursday. This was done by transferring $2.8 million into DWAC’s trust account.

The deposit, which is equal to 10 cents per share, moves up the deadline for the merger to December 8, which is about two months after the following special meeting is set. Given the additional time, DWAC urged investors to support the extension as it concluded its statement.

After the session ended on Thursday, Orlando shared on Truth Social a statement from Thomas Jefferson, a picture of a tomahawk steak, a selfie with a white Ford Bronco, and a reference to “Star Trek.”

After the market closed, DWAC shares fluctuated on low activity.

Truth Social, which the former president formed after being barred from Twitter as a result of the Capitol riot on January 6, 2021, is owned by Trump Media.

The loss of the vote could lead to the SPAC’s collapse, Digital World had earlier cautioned. The built-in extension gives the corporation additional time to collect votes and, in the event that liquidation does take place, raises the share dividend from approximately $10.20 to approximately $10.30.

The results of the vote were supposed to be announced by DWAC on Tuesday, but Orlando called an end to its special meeting after only two minutes to allow for additional voting opportunities. In a report published earlier that day, Reuters cited insiders who said that DWAC had fallen short of the number of votes required to approve the extension.

To support extending the merger deadline, DWAC needs the support of 65% of its shareholders. Orlando owns 20% of those shares via ARC Global Investments, but he claims that the deal has drawn in a lot of ordinary investors. In order for them to vote for Truth Social, Orlando has been mobilising those investors.

According to sources, representatives from Trump Media and DWAC discussed the merger, which has led to the SEC looking into the agreement for possible securities violations prior to DWAC’s public offering.

Trump Media and Technology Group claimed that the SEC has been long overdue in providing “relevant feedback,” which is why the merger has been delayed.

“The SEC has to set aside any improper political considerations and bring its examination to a speedy conclusion in the sake of simple justice,” said a statement from Trump Media.

Thursday, CNBC contacted the SEC for comment.

Trump Media has refuted claims of financial strife that the business owed a contractor more than $1 million. The company might not require the cash inflow from the DWAC deal, according to the former president.

Regardless, I don’t require money since “I’m incredibly affluent!” Any private companies out there? On Saturday, Trump posted on Truth Social.