nvestors have approved a deal on Friday to make Truth Social owner Trump Media a publicly traded company.

The green light from shareholders clears a major hurdle for a long-delayed merger that will generate a multi-billion dollar windfall for former President Donald Trump at a time when he’s facing immense financial and legal pressure.

According to a preliminary vote total announced during the meeting, a majority of shareholders of Digital World Acquisition Corp. voted in favor of the deal to merge with Trump Media. The companies have indicated the merger could close as soon as early next week.

The new company will be called Trump Media & Technology Group and trade under the ticker DJT, Trump’s initials. It will own Trump’s struggling social media platform Truth Social.

Shareholders voted to approve Trump Media’s merger with a blank-check company, following years of legal and regulatory obstacles. Trump will own a dominant stake in a public company, with shares worth more than $3 billion at current market prices.

However, experts tell CNN there are numerous practical, financial and legal reasons why this deal is unlikely to solve Trump’s imminent cash crunch.
SNIP