For the three-month period that ended 31 March, the company posted a loss of $327.6m, which it said included $311m in non-cash expenses related to its merger with a company called Digital World, which was essentially a pile of cash looking for a target to merge with.
guardian write your shit better jesus christ. What is digital world, is it a pile of cash? Are they 300000 T-bills in a trench coat?
It’s an example of a special purpose acquisition company, or Spac, which can give young companies quicker and easier routes to getting their shares trading publicly.
Er, it’s literally the very next paragraph…
Did you just stop reading?