The former White House speaker will formally announce his decision on Wednesday and is expected to endorse Romney, according to his campaign.
Previous reports said Gingrich would likely drop out of the race on Tuesday.
Gingrich who was at one point Romney’s main rival during a bitter primary fight, called on the party to stand united behind the former Massachusetts governor.
According to a report filed with the Federal Election Commission (FEC), Gingrich’s campaign ended last month with $4.3 million in debt, up from $1.5 million at the end of February.
The March debts include payments for ordinary campaign consultations, massive spending on private jets, expenses at a private security firm, and payments to staffers who had to cover their own travel and lodging expenses.
Gingrich focused his efforts on southern states but was only able to win Georgia.
The fortnightly conservative magazine National Review called on Gingrich in February to leave the Republican primary contest.
“It would be a grave mistake for the party to make someone with such poor judgment and persistent unpopularity its presidential nominee,” the magazine said.
AO/MA
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