Clearly Donald is above the law, if they won't bust him for the insurrection and other obvious and easily proved crimes, they won't bother him about this. He'll ignore an injunction and take it to the supreme court etc.
They raised $293 million. If I understand the deal, a SPAC or special-purpose acquisition company raised money in it's own public offering and is using the money to buy this startup as well as use the money to fund investments into the business. It's not wholly owned by Trump but I'd guess that he already has more then 50% stake in it.
It will be a listed public company with rules, regulations and hanky panky that Trump can pull off around those rules. For some reason, people are pouring money into it and share prices of the SPAC are jumping. I guess that investors can be as right wing and idiotic as anybody else.