Trump-backed SPAC Digital World's CFO resigns

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Dec 16 (Reuters) - The finance chief of Digital World Acquisition Corp, which plans to merge with former U.S. President Donald Trump's social media firm, has resigned, the blank-check firm said.

The resignation of Chief Financial Officer Luiz Braganza was effective on Dec. 9, the special purpose acquisition company (SPAC) said in a filing dated Thursday, and added that two directors have also resigned since late-November.

The announcement comes after Digital World investors last month voted to approve an extension of the time the SPAC has to complete a deal with Trump's Trump Media & Technology Group (TMTG), which operates Trump's Truth Social app.

At stake is a $1.3 billion cash infusion that TMTG stands to receive from Digital World.

Shares of Digital World dropped 6% to $18.93 in premarket trading on Friday.

The blank-check firm had inked a deal in October 2021 to take the company public. But the process has been complicated by investigations probing whether the Trump-backed company broke securities regulations. (Reporting by Chavi Mehta in Bengaluru; Editing by Sherry Jacob-Phillips)

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