The merger had faced late hurdles amid uncertainty over whether Arc Global Investments, Digital World’s largest shareholder, would support the deal. But Digital World secured enough support in a shareholder meeting on Friday.
Shares in Digital World have surged by 145pc this year, a phenomenon believed to be in part due to Mr Trump’s voters buying up the shares as a show of support.
TMTG and Digital World secured regulatory approval to go ahead with the deal last month, opening the door to the long-delayed merger.
Truth Social, announced by Mr Trump in 2021 after he left office, is similar to Twitter, from which the former president was banned after the January 6 Capitol Hill riots.
It allows users to send out short messages, reply and “re-truth” other people’s posts. Mr Trump typically posts several times a day on the service, despite his ban from Twitter being rescinded.
TMTG lost $49m in the first nine months of 2023, while revenue rose from $237,000 in the first nine months of 2022 to $3.4m.
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