Sarasota, Florida - Donald Trump created his Twitter-alternative Truth Social to stay connected with his MAGA base, but now the platform might be in deep trouble as it faces an important funding deadline.

Are things looking grim for Trump's mouthpiece?

According to The Washington Post, the former president's Trump Media & Technology Group, which owns Truth Social, has been in negotiations with Digital World Acquisition Corp. for a huge merger. Both companies expect it will create a "tech titan" worth $875 million, or up to $1.7 billion depending on the stock's performance.

The merger, which was announced in October 2021, has an upcoming September 8 deadline for it to close, but both parties seem to be unprepared to finally make it happen, with deadline extensions galore being requested.

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Now Digital World is looking to once again extend the deadline, which has already been extended five times, and will hold a vote with its shareholders on Tuesday to do so.

If the vote for this extension fails to pass, the company will be required by law to pay back $300 million to its shareholders, while Trump Media will receive nothing from the deal.

Jay Ritter, a finance professor with the University of Florida, explained that Digital World is known as a SPAC, or special purpose acquisition company, which "are known as 'blank check' companies because they raise money from investors to buy a private company before identifying who they intend to target."

"Once the SPAC decides on and discloses its target, it works to merge with that company and bring it to the public stock market, avoiding some of the demands of a more traditional initial public offering, or IPO," Ritter explained.

Truth Social was once considered a hopeful venture, reaching a peak share price of $175 only hours after its launch. It has since dropped to only around $14.

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As Trump currently faces 91 felony charges in four criminal indictments and runs for re-election at the same time, the majority of his money, and that of donors, organizations, and PACs aligned with him, have been mostly used to handle his legal fees, and the fees of others indicted alongside him.

It's unclear if Truth Social will crash if the merger falls through, but it will create yet another massive expense for Trump and his Trump Media organization.