Trump Media & Technology Group and TAE Technologies announced an all-stock merger in December 2025, with each side slated to own roughly half the combined entity on a fully diluted basis. The deal initially targeted a mid-2026 close before shifting to a fourth-quarter 2026 goal. On September 30, 2026, the companies filed a Form S-4 registration statement with the SEC, a required step that remains ineffective pending further review. Closing still requires SEC effectiveness, shareholder approvals, Hart-Scott-Rodino antitrust clearance, exchange listing confirmation, and satisfaction of other customary conditions under the merger agreement. An amended convertible note provides additional financing flexibility through late November 2026. These procedural milestones and the extended timeline shape trader assessments of completion probability by the specified July 31 cutoff.