Trump Media & Technology Group and TAE Technologies will proceed with their planned $6 billion merger after deciding not to pursue a previously discussed spinoff of media assets such as Truth Social, according to a Wednesday statement.
The companies, along with Texas Ventures Acquisition III, said they had ended discussions around separating certain Trump Media businesses into a standalone public entity.
Earlier this year, the parties explored a structure that would have placed Truth Social and related media assets into a newly listed company through a combination with Texas Ventures Acquisition III.
The proposal was designed to take effect after completion of the merger between Trump Media and California-based fusion-energy company TAE Technologies.
The contemplated transaction would have involved a special purpose acquisition company led by executives and associates connected to the Trump family.
