Investors voted on Sept. 5 to give the special purpose acquisition company intending to merge with former President Donald Trump’s Truth Social parent company more time to finalize the union following multiple delays.

More than 65 percent of shareholders with the Digital World Acquisition Corp., a special purpose acquisition company or SPAC, agreed to grant an additional 12 months to finalize its plans with President Trump's media startup, Trump Media & Technology Group (TMTG), the Washington Examiner reports.

Digital World CEO Eric Swider appeared to confirm the vote in a post on Truth Social on Tuesday.

"Thank you for all of the outstanding support," he wrote. "Please understand my silence. We remain focused on the task at hand and are watching every word we say."

Prior to that post, Mr. Swider had urged all Digital World shareholders to "please remember to vote your shares" ahead of Tuesday.

"It doesn't matter if you have 1 share or 10,000 shares. Digital World is held by retailer investors so every vote counts," he wrote on Truth Social.

The Epoch Times has contacted Digital World and TMTG for further comment.

Digital World entered into a merger agreement with TMTG, the parent company of social media platform Truth Social in October last year, but the deal has been hit with multiple delays, including investigations by the U.S. Department of Justice (DOJ) and the Securities and Exchange Commission (SEC).

The latest decision marks the second time the merger has been granted a one-year closing extension and came just days ahead of a Sept. 8 deadline under which Digital World was meant to complete the transaction with TMTG.

Digital World Reaches $18 Million Settlement

If the extension had not been granted, the deal itself would have effectively been wiped out and Digital World would have been required to liquidate and return the $300 million it raised to shareholders, Reuters reported.

Both companies recently reaffirmed their plans to merge after Digital World reached a tentative settlement of a penalty of $18 million with the SEC to settle charges alleging the company violated antifraud provisions.

The antifraud charges related to Digital World’s "IPO filings on Form S-1 and the Form S-4 concerning certain statements, agreements, and omissions relating to the timing and discussions the company [DWAC] had with TMTG regarding the proposed business combination," Digital World’s SEC filing states.

Prior to the settlement, Truth Social asked Congress to investigate the SEC over delays to the merger, which it alleged were being caused by "egregious conduct and blatant politicization."

The Justice Department also announced charges against a former Digital World board member, Bruce Garelick, and two others who were arrested in June for insider trading related to the proposed merger with TMTG.

Trump Lawsuits Mount Up

However, neither President Trump nor his company faced any charges in relation to those allegations.

Digital World’s stock was trading up 3.63 percent as of Wednesday at $17.11, but it still trading down substantially from its peak of about $97 a share in March 2022.

The extension comes as President Trump, who controls 90 percent of TMTG, is currently facing a string of charges over his alleged efforts to challenge the results of the 2020 election in Georgia and elsewhere.

President Trump, the Trump Organization, and three of his adult children are also facing a multimillion-dollar civil lawsuit filed by New York Attorney General Letitia James alleging "years of financial fraud to obtain a host of economic benefits" including fraud and misrepresentation of financial statements as part of an alleged effort to deceive insurers, tax officials, and lenders by inflating the value of his properties, including his Mar-a-Lago estate in Florida.

In late August, Ms. James urged the judge in that matter to issue an immediate partial summary judgment ahead of a scheduled trial, claiming that the "overwhelming amount of evidence" established "beyond dispute" that President Trump and his co-defendants engaged in the illegal behavior.

President Trump has denied all wrongdoing.

Efthymis Oraiopoulos contributed to this report.