Digital World PIPE Financing Commitment: Evidentiary limit

Entities and roles

• America First Audit: Digital World PIPE Financing Commitmentaudit case
• Donald J. Trumpcomparison subject

Claims and evidence

1. factdocumented

   The financing was contingent on the business combination and subject to conversion-price adjustments and transaction risks.

   • U.S. Securities and Exchange Commission: TMTG and Digital World announce $1 billion PIPE investmentTransaction terms and forward-looking-statement sections
   • U.S. Securities and Exchange Commission: In the Matter of Digital World Acquisition Corp.Summary and paragraphs 2-9 concerning pre-announcement discussions and disclosures
   • Axios: Trump social media group announces PIPE investment from undisclosed investorsInvestor anonymity and financing terms