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