Trump Media Announces $69.4 Million in Initial Proceeds from Warrant Exercise
Rhea-AI Summary
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.
Positive
- TMTG expects to receive over $69.4 million from warrant exercises.
- $40 million in restricted cash will become unrestricted.
- Potential to receive up to $247 million if all warrants are exercised.
- Currently holds over $200 million in unrestricted cash.
Negative
- None.
News Market Reaction – DJT
In the trading session that priced this news, DJT gained 21.19%, reflecting a significant positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
AI-generated analysis. How Rhea-AI works. Not financial advice.
SARASOTA, Fla., June 21, 2024 (GLOBE NEWSWIRE) -- Trump Media & Technology Group Corp. (NASDAQ: DJT) (“TMTG” or the “Company”)—operator of the Truth Social platform, yet another of President Donald J. Trump’s iconic American brands—today announced that it expects to receive more than
Such cash exercise became available after the Securities and Exchange Commission (“SEC”) declared effective the Company’s registration statement on Form S-1 on June 18, 2024 (“Registration Statement,” File No. 333-278678).
If all warrants covered by the Registration Statement are exercised for cash, TMTG may receive up to an aggregate of approximately
Investors interested in exercising their warrants should contact their registered broker.
About TMTG
The mission of Trump Media & Technology Group (TMTG) is to end Big Tech's assault on free speech by opening up the Internet and giving people their voices back. TMTG operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations.
Investor Relations Contact:
Shannon Devine (MZ Group | Partner - MZ North America)
Email: shannon.devine@mzgroup.us
Media Contact:
press@tmtgcorp.com
About the Registration Statement
The offering of the securities covered by the Registration Statement may only be made by means of a prospectus. The Registration Statement and prospectus may be accessed through the U.S. Securities and Exchange Commission's website at www.sec.gov. A copy of the prospectus related to the offering may be obtained from Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 353-0103.
The listing of an individual as a “selling securityholder” in the Registration Statement does not mean such individual or entity will sell their shares or is planning to sell their shares. Notwithstanding registration of securities on the Registration Statement, TMTG’s directors and officers, its affiliate President Donald J. Trump, and certain other securityholders will remain subject to a lockup period or otherwise restricted from selling any shares at this time.
Non-Solicitation
This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
