Truth Social parent company Trump Media & Technology Group to become publicly traded company

[mystery-ak]

 Published March 22, 2024 10:27am EDT
Truth Social parent company Trump Media & Technology Group to become publicly traded company
TMTG stock will trade as 'DJT' on Nasdaq

By Brooke Singman FOXBusiness

Shareholders voted Friday to make Trump Media & Technology Group, the parent company of Truth Social, a publicly traded entity, Fox News Digital has learned.

Shareholders voted in favor of Trump Media & Technology Group (TMTG) merging with its special purpose acquisition company (SPAC) Digital World Acquisition Corp., a publicly traded shell company.

The merger approval means TMTG stock will trade on Nasdaq as "DJT" as early as next week.

Former President Trump, the presumptive 2024 GOP presidential nominee, holds 78.7 million shares in Trump Media & Technology Group. His personal stake in the company at its current stock price of approximately $44.17 would be worth between $3 billion and $4 billion.

There is a six-month lock-up on Trump's shares, but the board could vote to waive that rule.

more
https://www.foxbusiness.com/politics/truth-social-parent-company-trump-media-technology-group-become-publicly-traded-company

[mystery-ak]

Trump Could Get $3.5B Windfall after Shareholders Approve Truth Social Merger

Kristina Wong22 Mar 2024910
1:23

Former President Donald Trump stands to get a windfall of $3.5 billion now that shareholders of Digital World Acquisition Corp. have approved a merger with his Truth Social on Friday.

The potential multibillion dollar infusion comes as New York Attorney General Letitia James is moving to seize Trump’s assets to pay a $464 million bond in his New York civil fraud case.

The long-delayed merger came after the Securities and Exchange Commission (SEC) approved it last month, and means that Trump’s company Trump Media & Technology Group will trade on the stock market under the stock ticker “DJT” as early as next week.

Trump will own nearly 79 million shares in the newly-merged company, which is currently around $41 per share.

The former president will not be able to cash in his stake until six months after the merger, but Talking Point USA’s Founder and CEO Charlie Kirk posted on X that Trump could seek a waiver to do so in order to pay the bond so he can appeal the fraud case.

https://twitter.com/charliekirk11/status/1771184734644871382

more
https://www.breitbart.com/politics/2024/03/22/trump-could-get-3-5b-windfall-after-shareholders-approve-truth-social-merger/