Shares of Digital World Acquisition Corp. DWAC fell 5% in premarket trades Monday after the special purpose acquisition company SPAC bought the company behind Donald Trump's Truth Social said a federal grand jury sitting in the Southern District of New York has issued subpoenas that seek many of the documents required in a probe by the Securities and Exchange Commission that was disclosed on June 13. The grand jury is looking for information on Digital World's filings, communications with or about multiple individuals, and information regarding Rocket One Capital. Digital World said that the subpoenas and investigations by the Department of Justice and the SEC could delay the effectiveness of the registration statement, which could materially delay, materially impede or prevent the consummation of its merger with Trump Media Technology Group, the parent company of Truth Social. Digital World said that board member Bruce J. Garelick told the company he planned to resign as of June 22. According to the filing, he stated that his resignation was not caused by any disagreement with Digital World's operations, policies or practices. Digital World shares have fallen 45.9% this year.