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Trump Media & Technology Group Corp. (NASDAQ: DJT) is a prominent media and technology company, recognized primarily for its social media platform, Truth Social. TMTG is dedicated to providing digital spaces that encourage open, free, and honest global conversations without political bias. The company's mission is to counteract the perceived censorship imposed by major technology corporations, thus empowering users to freely express their views.
Truth Social stands as TMTG's flagship product, embodying the company's commitment to free speech. Launched to promote a censorship-free environment, the platform has quickly garnered attention for its unique positioning in the social media landscape. TMTG's operations recently achieved a significant milestone by completing a business combination with Digital World Acquisition Corp., leading to its public listing on NASDAQ under the ticker symbol DJT. This transformation underscores the growing demand for platforms that prioritize free expression.
Under the leadership of CEO Devin Nunes, TMTG has expanded its resources, securing over $200 million in capital, with no outstanding debt. This strong financial position provides a solid foundation for future growth and innovation. The company is actively advancing its content delivery network (CDN), which will support its upcoming live TV streaming service. This service aims to deliver a diverse range of content, including news, religious programming, family-friendly content, and other media often overlooked by mainstream platforms.
TMTG's CDN is designed to be independent of Big Tech, focusing on efficiency, cost-effectiveness, and high performance. This initiative aligns with the company's broader goal of establishing a dependable platform for creators facing unjust censorship. The network's phased rollout will enhance the user experience on Truth Social, ensuring reliable and secure streaming of high-quality content.
With a shareholder base largely consisting of retail investors loyal to its mission, TMTG places a strong emphasis on transparency and investor relations. The company advises shareholders to maintain their shares in cash accounts to prevent unauthorized lending for short selling, thus aligning with their long-term investment goals.
The company's dedication to free speech extends to its strategic efforts in infrastructure development, innovative product offerings, and robust financial management. As TMTG continues to evolve, it remains steadfast in its mission to safeguard digital freedom and provide a platform where all voices can be heard.
Trump Media & Technology Group Corp. (Nasdaq: DJT) CEO Devin Nunes has issued a statement following an attempted assassination of former President Donald J. Trump at a rally in Butler, Pennsylvania. The incident resulted in the death of one rally attendee and injuries to others. Nunes expressed sympathy for the victims and called for a swift federal investigation to uncover all details of the attack and identify any potential accomplices. He also urged the federal government to provide additional security resources as requested by Trump to ensure his safety. Nunes concluded by expressing confidence in America's ability to overcome this incident.
Trump Media & Technology Group (Nasdaq: DJT) has announced an agreement to acquire technology for a new content distribution network (CDN) for TV streaming on its Truth Social platform.
The deal includes perpetual licensing rights from Perception Group and a potential future acquisition of Perception.
TMTG also secured a long-term equity financing deal with Yorkville Advisors, enabling it to issue up to $2.5 billion in shares over three years.
The financing will fund the company's expansion, including the issuance of up to 5.1 million common shares and $17.5 million over three years to fund the technology acquisition.
Trump Media & Technology Group Corp. (NASDAQ: DJT), the operator of the Truth Social platform, announced that the company has received over $105 million in cumulative proceeds from the cash exercise of warrants between June 20 and July 1, 2024. Additionally, approximately $41 million of previously restricted cash has now become unrestricted. As a result, the company reported over $350 million in cash and no debt on its balance sheet as of July 1, 2024.
Trump Media & Technology Group Corp. (NASDAQ: DJT), the operator of the Truth Social platform, has been included in the Russell 1000 and Russell 3000 Indexes following the 2024 annual reconstitution. This inclusion, effective after the U.S. market closed on June 28, 2024, signifies TMTG's recognition among the 3,000 largest U.S.-traded stocks by market-capitalization and style attributes. The Russell 1000 Index covers the largest companies in the Russell 3000 Index. Membership is updated annually and reflects the company's market standing for one year. The Russell Indexes are essential benchmarks for approximately $9.1 trillion in assets managed by investment firms and institutional investors.
Trump Media & Technology Group (NASDAQ: DJT) announced it expects to receive over $69.4 million from the exercise of warrants on June 20 and 21, 2024. This follows the SEC's effective declaration of the company's registration statement on June 18, 2024.
If all warrants under this registration are exercised for cash, TMTG could garner up to $247 million. Furthermore, $40 million in restricted cash will be freed up, adding to the $200 million in unrestricted cash already held as of June 18, 2024. Investors should contact their brokers for warrant exercise.
Trump Media & Technology Group Corp. (NASDAQ: DJT) announced that the SEC has declared effective the Company's registration statement on Form S-1, enabling the resale of certain shares and warrants. This declaration allows the Company's warrants to be exercised for cash, potentially generating up to $247 million in proceeds and freeing $40 million in restricted cash, supplementing over $200 million in unrestricted cash. CEO Devin Nunes highlighted that this milestone positions TMTG to pursue TV streaming, platform enhancements, and potential mergers and acquisitions. The registration allows resale by existing security holders, with restrictions remaining on certain insiders, including President Donald J. Trump.
Trump Media & Technology Group Corp. (NASDAQ: DJT) has filed an amended registration statement on Form S-1 with the SEC, following their business combination with Digital World Acquisition Corp. on March 25, 2024. The filing includes a re-audit of financial statements for 2022 and 2023 by Semple, Marchal & Cooper LLP. The registration is for the resale or initial issuance of certain shares and warrants, although the number of shares remains unchanged from the previous filing. TMTG will not receive proceeds from these sales, except from possible future warrant exercises. The Amended Registration Statement is not yet effective and is subject to further amendment. The directors, officers, and certain securityholders, including Donald J. Trump, are currently restricted from selling their shares.
Trump Media and Technology Group (TMTG) has announced its first-quarter 2024 financial results. The company successfully completed its merger with Digital World Acquisition Corp. and commenced trading on Nasdaq under the symbol DJT on March 26, 2024. As of March 31, 2024, TMTG holds $273.7 million in cash and equivalents. The company reported a GAAP loss of $327.6 million for Q1, primarily due to $311.0 million in non-cash expenses from the conversion of promissory notes. Operating loss, based on non-GAAP Adjusted EBITDA, was $12.1 million, with $6.3 million attributed to one-time merger-related expenses. Revenue for Q1 was $770,500. TMTG's live TV streaming platform is set to launch in three phases, with initial contracts signed for data center and hardware support. The company has over 621,000 retail shareholders.
Trump Media & Technology Group Corp. appointed Semple, Marchal & Cooper, LLP as its independent registered public accounting firm. The appointment was made after an evaluation process and approved by the Audit Committee. TMTG plans to seek an extension for its 10-Q filing.
Trump Media & Technology Group Corp. (NASDAQ: DJT) provides information to DJT investors regarding recalling shares. The company wants to highlight actions shareholders can take to prevent lending of their shares for short selling purposes. DJT shareholders are primarily retail investors who support TMTG's mission. Shareholders have the option of recalling their shares, holding them in a cash account, opting out of securities lending programs, or moving their shares to a Direct Registration account at the Company’s transfer agent, Odyssey Transfer & Trust Company. The company clarifies the process for recalling shares and provides additional information regarding moving shares out of brokerage accounts. The release emphasizes that the information provided does not constitute investment advice and encourages investors to consult their financial advisor before making any transactions or strategies.
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