A SPAC merger plans to bring former President Donald Trumps new social media platform and media assets public. SPAC saw a huge increase in its share price in 2021 The deal has been announced.

A member of the US Congress was one of the people who bought shares in SPAC. Here’s a look at the potential loss the congressman has now.

What happened: To bring a SPAC merger Trump media and technology group, the parent company of social media platform Truth Social, was public Announced late 2021. The deal merges with Trump Media & Technology Group Digital World Acquisition Corp DWAC.

The SPAC deal has faced multiple setbacks and investigations and has not yet been finalized.

Investors flocked to SPAC in 2021, and common stock did one of the most successful IPOs of the calendar year.

One of the investors who bought into DWAC stock early after the deal was announced was US Representative Marjorie Taylor Greenea Republican from Georgia.

A filing on October 26th reveals that Greene bought DWAC shares ranged from $15,001 to $50,000 on October 22, 2021. Greene’s office later confirmed the trade.

“This transaction was reported in accordance with House Rules and includes all required details about the transaction,” Greene’s office told CNBC at the time.

according to a tweet In the post about the purchase, Greene paid an average of $94.20 for the DWAC shares. Digital World Acquisition shares were trading between $67.96 and $118.80 on the day Greene made her purchase.

Related link: Congressmen Buy Energy And Defense Stocks Ahead Of Russian Invasion Of Ukraine: Who Are They And What Did They Buy?

DWAC performance since Greene purchase: Digital World Acquisition stock had a nice run up in February before breaking through the rest of 2022. Shares in SPAC are down 76% year over year continue to be under pressure that the deal was not completed and enforced prior to a deadline for the merger agreement.

Without closing the deal on time, SPAC could…