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Sept 8 (Reuters) – Digital World Acquisition Corp, the blank-check acquisition firm that agreed to merge with former U.S. President Donald Trump’s social media company, on Thursday further postponed a critical shareholder meeting, marking the second delay of the day.

Digital World (DWAC.O) had until today to complete a merger with Trump Media & Technology Group (TMTG), which operates the Truth Social app, or give back hundreds of millions it raised in an initial public offering last year.

Patrick Orlando, chief executive of Digital World, said at Thursday’s virtual meeting the company was giving itself more time to count votes. He initially postponed the vote by three hours and then postponed it by another two hours.

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The meeting will begin at 5 p.m. Eastern time (2100 GMT).

This marks the third delay. The company first held a meeting on Tuesday but failed to reach its goal of getting enough shareholders to approve a 12-month extension. Management postponed until Thursday. On Thursday it postponed it twice more. At least 65% of shareholders have to vote for the one year extension for it to be permitted.

The sponsor could also put up $2.8 million to buy an extension until December.

The transaction has been on ice amid civil and criminal probes into the circumstances around the deal. Digital World had been hoping the U.S. Securities and Exchange Commission (SEC), which is reviewing its disclosures on the deal, would have given its blessing by now.

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Reporting by Svea Herbst-Bayliss; Editing by Chizu Nomiyama, Chris Reese and Aurora Ellis

Our Standards: The Thomson Reuters Trust Principles.

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