TeamDML offers insights, opinions, podcasts, videos and other forms of content intended to educate and better explain trending news that is made available to the public by third parties. In this particular case, we refer to an excerpt from Breitbart:
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 reportedly owns 58.1% of Truth Social, and will own nearly 79 million shares in the newly-merged company, which is currently valued at over $41 per share.
The deal reportedly includes a six-month lockout provision which prevents Trump from immediately selling or getting loans based on his shares. However, it is being widely speculated that because Trump owns such a large share of the company, that restriction may be waived if he requests it.
Turning Point USA founder Charlie Kirk announced:
BREAKING: Shareholders have just voted to make Trump Media & Technology Group, the parent company of Truth Social, a publicly traded company. This could net Trump a windfall of $4 billion.
The President would need to seek a waiver to liquidate his stock before the end of a lockup period in order to use the cash to secure a $450 million bond in the Letitia James, “Get Trump” fraud case to then appeal the decision. Trump has nearly $500 million in cash, but experts claim he needs $1 billion in cash to secure a bond that size.
The merger approval means TMTG stock will trade on Nasdaq as “DJT” as early as next week.
BREAKING: Shareholders have just voted to make Trump Media & Technology Group, the parent company of Truth Social, a publicly traded company. This could net Trump a windfall of $4 billion. The President would need to seek a waiver to liquidate his stock before the end of a…
— Charlie Kirk (@charliekirk11) March 22, 2024
Students for Trump chair Ryan Fournier wrote, “Trump is now worth an additional $3 BILLION because of Truth Social going public. Liberal tears incoming!”
Trump is now worth an additional $3 BILLION because of Truth Social going public.
Liberal tears incoming!
— Ryan Fournier (@RyanAFournier) March 22, 2024
Best News Day Ever!! #TruthSocial pic.twitter.com/GKuMDtUseY
— JDO Post | 𝙽𝚎𝚠𝚜 + 𝙰𝚗𝚊𝚕𝚢𝚜𝚒𝚜 (@JDOPost) March 22, 2024
Donald Trump’s Truth Social has completed a merger that could net him over $3 billion — but a provision in the deal keeps him from immediately selling his shares. https://t.co/am5Vm1LUv1
— ABC News (@ABC) March 22, 2024
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The post BREAKING: Trump To Get Massive Financial Windfall after Shareholders Approve Truth Social Merger appeared first on Dennis Michael Lynch.
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