Shares of Digital World Acquisition Corp., the blank-check company poised to take Donald Trump’s media venture public, fell in volatile trading on Monday after Twitter announced a take-private deal with Elon Musk.

The stock had fallen 12.9% Monday, bringing its year-to-date losses to over 30%. The special purpose acquisition company is on track to merge with the former president’s Trump Media & Technology Group.

The media venture includes a social media platform called Truth Social, which launched on the Apple App Store in February. Trump’s company is being marketed as an alternative to social media giants Twitter and Facebook, both of which banned him on the grounds of inciting the Jan. 6, 2021, riot at the U.S. Capitol. But the new platform has had a choppy start, plagued by technical glitches and the departure of key executives.