Donald Trump is the majority shareholder in Trump Media, which owns the Truth Social app. DJT shares fell 20% last week ahead of his New York hush money trial.
Shares of Trump Media plunged after the company filed to issue millions of additional shares of stock.
Trump is the majority stakeholder in Trump Media, which created the Truth Social app and trades under the stock ticker DJT on the Nasdaq.This photo illustration shows an image of former President Donald Trump reflected in a phone screen that is displaying the Truth Social app, in Washington, DC, on February 21, 2022.to the Securities and Exchange Commission. The shares cannot be issued until a registration statement with the SEC goes into effect.
Trump Media predicted in the filing that it will receive "up to an aggregate of approximately $247.1 million from the exercise of the Warrants." The company also seeks to offer the resale of up to 146.1 million shares of stock from "selling securityholders," 114.8 million of which are held by Trump himself. Trump owns 78.8 million shares of the company, and stands to obtain 36 million "earnout shares" if the stock stays above a certain price for enough trading days.
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