Anchor ads are not supported on this page.

4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs

Trump's Truth Social deal stalled by San Diego-tied investigation

Sorrento Valley merger partner subpoenaed by federal grand jury in New York

Digital World's one-time CEO and current board member Lee Jacobson
Digital World's one-time CEO and current board member Lee Jacobson

Digital World Acquisition Corp, a company with deep San Diego ties seeking to merge with Trump Media & Technology Group Corp in a deal valued at $1.3 billion, has disclosed in a regulatory filing that it is under investigation by a federal grand jury in New York, likely delaying the combination.

Trump Media & Technology Group operates Truth Social, a social network set up by ex-president Donald Trump in the wake of his ban from Twitter.

"On June 16, 2022, Digital World became aware that a federal grand jury sitting in the Southern District of New York has issued subpoenas to each member of Digital World’s board of directors; the subpoenas seek certain of the same documents demanded in the above-referenced SEC subpoenas, along with requests relating to Digital World’s S-1 filings, communications with or about multiple individuals, and information regarding Rocket One Capital," says a June 16 8-K filing with the Securities and Exchange Commission.

Jacobson's LinkedIn profile features a photo of downtown's Marriott Marquis Marina.

"Additionally, on June 24, 2022, Digital World received a grand jury subpoena with substantially similar requests. These subpoenas, and the underlying investigations by the Department of Justice and the SEC, can be expected to delay effectiveness of the Registration Statement, which could materially delay, materially impede, or prevent the consummation of the Business Combination."

Sponsored
Sponsored

"If the merger is not completed, Digital World will have to return the nearly $300 million raised in the I.P.O. to shareholders," per a June 27 New York Times account of the disclosure."The $1 billion that dozens of hedge funds have said they would invest in a completed deal would be canceled."

Though not widely known in San Diego, SEC filings by Digital World list both the mailing and business addresses for the company at 5910 Pacific Center Blvd. , Suite 300, in San Diego's Sorrento Valley.

That's the same building occupied by Robot Cache, a video game distribution start-up co-founded by Digital World's one-time CEO and current board member Lee Jacobson, a longtime but low-profile San Diego tech maven.

Digital World's SEC filing describes Jacobson as "an entertainment executive with over 25 years of experience in the video game industry and 16 years of experience managing digital distribution at some of the most well-known publishers in the world. In January 2018, he co-founded and currently serves as the Chief Executive Officer for Robot Cache US, Inc., a PC games digital distribution company."

"Beginning in September 2012, Lee was the Chief Executive Officer of Apmetrix Analytics Inc. until it liquidated its assets in 2019 in a Chapter 7 bankruptcy proceeding."

Jacobson was profiled by the Union-Tribune in a May 1, 2019, story about his blockchain based Robot Cache.

“'We said, ‘Let’s use blockchain to invent a digital resale model that can take out GameStop — or certainly give them a run for their money,’ Jacobson said."

"The company, officially founded in early 2018, uses the blockchain-based Ethereum network to execute smart contracts with the sale of each game, allowing the game rights to travel in a trackable, verifiable way."

Per Jacobson's LinkedIn profile, which features a photo of downtown's Marriott Marquis Marina, he was managing director of San Diego-based ConvergentDirect from May 2014 to May 2018.

Digital World first filed with the SEC to go public in last spring. A second amendment to the registration statement, dated last July 26, described the firm as "a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination throughout this prospectus.”

The latest copy of the Reader

Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Holiday Market At Petco Park, Will Smith’s Dance in the Darkness Tour, Light Shows, Snowfall, Caroling

Events December 12-December 13, 2024
Digital World's one-time CEO and current board member Lee Jacobson
Digital World's one-time CEO and current board member Lee Jacobson

Digital World Acquisition Corp, a company with deep San Diego ties seeking to merge with Trump Media & Technology Group Corp in a deal valued at $1.3 billion, has disclosed in a regulatory filing that it is under investigation by a federal grand jury in New York, likely delaying the combination.

Trump Media & Technology Group operates Truth Social, a social network set up by ex-president Donald Trump in the wake of his ban from Twitter.

"On June 16, 2022, Digital World became aware that a federal grand jury sitting in the Southern District of New York has issued subpoenas to each member of Digital World’s board of directors; the subpoenas seek certain of the same documents demanded in the above-referenced SEC subpoenas, along with requests relating to Digital World’s S-1 filings, communications with or about multiple individuals, and information regarding Rocket One Capital," says a June 16 8-K filing with the Securities and Exchange Commission.

Jacobson's LinkedIn profile features a photo of downtown's Marriott Marquis Marina.

"Additionally, on June 24, 2022, Digital World received a grand jury subpoena with substantially similar requests. These subpoenas, and the underlying investigations by the Department of Justice and the SEC, can be expected to delay effectiveness of the Registration Statement, which could materially delay, materially impede, or prevent the consummation of the Business Combination."

Sponsored
Sponsored

"If the merger is not completed, Digital World will have to return the nearly $300 million raised in the I.P.O. to shareholders," per a June 27 New York Times account of the disclosure."The $1 billion that dozens of hedge funds have said they would invest in a completed deal would be canceled."

Though not widely known in San Diego, SEC filings by Digital World list both the mailing and business addresses for the company at 5910 Pacific Center Blvd. , Suite 300, in San Diego's Sorrento Valley.

That's the same building occupied by Robot Cache, a video game distribution start-up co-founded by Digital World's one-time CEO and current board member Lee Jacobson, a longtime but low-profile San Diego tech maven.

Digital World's SEC filing describes Jacobson as "an entertainment executive with over 25 years of experience in the video game industry and 16 years of experience managing digital distribution at some of the most well-known publishers in the world. In January 2018, he co-founded and currently serves as the Chief Executive Officer for Robot Cache US, Inc., a PC games digital distribution company."

"Beginning in September 2012, Lee was the Chief Executive Officer of Apmetrix Analytics Inc. until it liquidated its assets in 2019 in a Chapter 7 bankruptcy proceeding."

Jacobson was profiled by the Union-Tribune in a May 1, 2019, story about his blockchain based Robot Cache.

“'We said, ‘Let’s use blockchain to invent a digital resale model that can take out GameStop — or certainly give them a run for their money,’ Jacobson said."

"The company, officially founded in early 2018, uses the blockchain-based Ethereum network to execute smart contracts with the sale of each game, allowing the game rights to travel in a trackable, verifiable way."

Per Jacobson's LinkedIn profile, which features a photo of downtown's Marriott Marquis Marina, he was managing director of San Diego-based ConvergentDirect from May 2014 to May 2018.

Digital World first filed with the SEC to go public in last spring. A second amendment to the registration statement, dated last July 26, described the firm as "a newly organized blank check company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses, which we refer to as our initial business combination throughout this prospectus.”

Comments
Sponsored

The latest copy of the Reader

Here's something you might be interested in.
Submit a free classified
or view all
Previous article

Rapper Wax wishes his name looked like an email password

“You gotta be search-engine optimized these days”
Next Article

How Much Time Do I Get With My BetterHelp Therapist?

Comments
Ask a Hipster — Advice you didn't know you needed Big Screen — Movie commentary Blurt — Music's inside track Booze News — San Diego spirits Classical Music — Immortal beauty Classifieds — Free and easy Cover Stories — Front-page features Drinks All Around — Bartenders' drink recipes Excerpts — Literary and spiritual excerpts Feast! — Food & drink reviews Feature Stories — Local news & stories Fishing Report — What’s getting hooked from ship and shore From the Archives — Spotlight on the past Golden Dreams — Talk of the town The Gonzo Report — Making the musical scene, or at least reporting from it Letters — Our inbox Movies@Home — Local movie buffs share favorites Movie Reviews — Our critics' picks and pans Musician Interviews — Up close with local artists Neighborhood News from Stringers — Hyperlocal news News Ticker — News & politics Obermeyer — San Diego politics illustrated Outdoors — Weekly changes in flora and fauna Overheard in San Diego — Eavesdropping illustrated Poetry — The old and the new Reader Travel — Travel section built by travelers Reading — The hunt for intellectuals Roam-O-Rama — SoCal's best hiking/biking trails San Diego Beer — Inside San Diego suds SD on the QT — Almost factual news Sheep and Goats — Places of worship Special Issues — The best of Street Style — San Diego streets have style Surf Diego — Real stories from those braving the waves Theater — On stage in San Diego this week Tin Fork — Silver spoon alternative Under the Radar — Matt Potter's undercover work Unforgettable — Long-ago San Diego Unreal Estate — San Diego's priciest pads Your Week — Daily event picks
4S Ranch Allied Gardens Alpine Baja Balboa Park Bankers Hill Barrio Logan Bay Ho Bay Park Black Mountain Ranch Blossom Valley Bonita Bonsall Borrego Springs Boulevard Campo Cardiff-by-the-Sea Carlsbad Carmel Mountain Carmel Valley Chollas View Chula Vista City College City Heights Clairemont College Area Coronado CSU San Marcos Cuyamaca College Del Cerro Del Mar Descanso Downtown San Diego Eastlake East Village El Cajon Emerald Hills Encanto Encinitas Escondido Fallbrook Fletcher Hills Golden Hill Grant Hill Grantville Grossmont College Guatay Harbor Island Hillcrest Imperial Beach Imperial Valley Jacumba Jamacha-Lomita Jamul Julian Kearny Mesa Kensington La Jolla Lakeside La Mesa Lemon Grove Leucadia Liberty Station Lincoln Acres Lincoln Park Linda Vista Little Italy Logan Heights Mesa College Midway District MiraCosta College Miramar Miramar College Mira Mesa Mission Beach Mission Hills Mission Valley Mountain View Mount Hope Mount Laguna National City Nestor Normal Heights North Park Oak Park Ocean Beach Oceanside Old Town Otay Mesa Pacific Beach Pala Palomar College Palomar Mountain Paradise Hills Pauma Valley Pine Valley Point Loma Point Loma Nazarene Potrero Poway Rainbow Ramona Rancho Bernardo Rancho Penasquitos Rancho San Diego Rancho Santa Fe Rolando San Carlos San Marcos San Onofre Santa Ysabel Santee San Ysidro Scripps Ranch SDSU Serra Mesa Shelltown Shelter Island Sherman Heights Skyline Solana Beach Sorrento Valley Southcrest South Park Southwestern College Spring Valley Stockton Talmadge Temecula Tierrasanta Tijuana UCSD University City University Heights USD Valencia Park Valley Center Vista Warner Springs
Close

Anchor ads are not supported on this page.

This Week’s Reader This Week’s Reader