Just like that, the rats are fleeing the once-magical ship. Reuters is reporting that investors who’d planned to be a part of a new business entity linked to former President Donald Trump’s Truth Social media platform are fleeing and taking their millions in investment capital elsewhere, Raw Story reports.

Initially, the SPAC (Special Acquisition Company) that would connect Truth Social to Digital World Acquisition Corp faced a steady flood of bad news for months on end after the Federal Elections Committee (FEC) announced an investigation of the deal, the Truth Social app was banned by Google Play and enrollment on the site has tanked even though Trump is the star attraction largely because he’s banned on so many social media sites, including Twitter and Facebook.

The report shows that an FEC filing reveals that an estimated $139 million in proposed financing has been withdrawn.

“The deal between the special purpose acquisition company (SPAC) and Trump Media and Technology Group (TMTG), which owns Truth Social, has been on ice due to civil and criminal probes into the circumstances around the agreement,” Reuters reports, adding “Digital World said it had received termination notices from private investment in public equity (PIPE) investors ending nearly $139 million in investments out of the $1 billion commitment it had previously announced.”

Apparently, one investor, in particular, landed a huge blow.

“Sources told Reuters Sabby Management, which had committed $100 million to the PIPE, is one of the investors who have terminated,” the report indicated, then added more investors are expected to leave in the following weeks now that a deadline set for September 20 has passed with not much happening.

“Investors, who signed the PIPE commitment about one year ago, are free to move their money after the Sept. 20, 2022 deadline if the deal has not completed,” Reuters reported.

Digital World announced it would tack on three months to the deal after its bid to extend the deal an extra 12 months for its shareholders fell short.

This is just another indication that Trump’s ship is sinking and I’m happy about it. I can’t think of anyone who needs this steady stream of bad news more than Trump does.