The Information reports that later today, Trump plans to announce a plan for “TikTok America,” a new company with 50 percent ownership by unnamed new US investors, a one-third stake for existing ByteDance investors, and a 19.9 percent share for ByteDance. It would apparently license TikTok’s algorithm from ByteDance.

As TikTok faces down an April 5 deadline, last-minute offers to buy the app have come from Amazon and the founder of OnlyFans, among others.

Amazon has put in an 11th-hour bid to buy TikTok, the social media app that will be banned in the U.S. this weekend unless it’s sold by its Chinese owner, The New York Times reported Wednesday.