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pkvi [S] 2 points ago +2 / -0

Digital World raised $293 million in September from a group of hedge funds including D.E. Shaw, Saba Capital Management, Highbridge Capital Management and Palm Beach, Florida-based Lighthouse Investment Partners.

Unlike most SPACs it doesn’t have PIPE investors, or private investment in public equity. They buttress SPAC mergers by helping enable a deal to go through even when early investors decide to redeem their shares.

Digital World’s board is light with people with media expertise.

Its Chief Financial Officer is Luiz Philippe de Orleans e Braganca, a member of Brazil’s national congress. He’s frequently referred to as a “prince” because of his claim to the defunct Brazilian throne as a descendant of Emperor Pedro II. Braganca, who’s called for a return to the monarchy in Brazil, has worked as a director for Time Warner’s AOL Latin America division.

“This new platform will fight the tyranny of Bigtechs,” Braganca, 52, said in an Instagram post that included a photo of himself and Trump.