Trump social media company will go public as DWAC shareholders approve merger

[BumRushDaShow]

Source: CNBC

Published Fri, Mar 22 2024 9:32 AM EDT Updated 16 Min Ago


Shareholders in Digital World Acquisition Corporation voted Friday to approve a merger with Donald Trump’s social media company, a deal that could net the former president an eventual windfall of $3 billion or more.

The vote by DWAC shareholders comes about two-and-a-half years after the so-called special purpose acquisition company announced plans to merge with Trump Media & Technology Group, the private firm that owns the Truth Social app platform.

It also comes as Trump faces the possibility that New York Attorney General Letitia James on Monday will start trying to collect on a massive $454 million civil fraud judgment against him. Shares in the newly combined company, Trump Media, could begin to be publicly traded next week under the stock symbol DJT, Trump’s initials.

Trump’s long-gone casino and hotel company also traded under that ticker symbol. Several lawsuits recently filed over the merger’s terms have not affected the voting schedule.

Read more: https://www.cnbc.com/2024/03/22/trump-could-net-3-billion-from-dwac-social-media-merger-vote.html

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Article updated.

Original article -

Published Fri, Mar 22 2024 9:32 AM EDT Updated 2 Min Ago


Shareholders in Digital World Acquisition Corporation voted Friday to approve a merger with Donald Trump’s social media company, a deal that could net the former president an eventual windfall of $3 billion or more.

The vote by DWAC shareholders comes about two-and-a-half years after the so-called special purpose acquisition company announced plans to merge with Trump Media & Technology Group, the private firm that owns the Truth Social app platform.

It also comes as Trump faces the possibility that New York Attorney General Letitia James on Monday will start trying to collect on a massive $454 million civil fraud judgment against him.

If approved as expected, shares in the newly combined company could begin to be publicly traded next week under the stock symbol DJT, Trump’s initials. Trump’s long-gone casino and hotel company also traded under that ticker symbol. Several lawsuits recently filed over the merger’s terms have not affected the voting schedule.

[riversedge]

1. "If the board signed off on lifting the share lock-up period, that could quickly free up a large source of cash for Trum

and IMHO--this will happen as per the article--Trumpy has lots of friends and family on the board!!


That potential windfall for Trump, while massive, could not be immediately realized, at least not under the deal’s current terms. Trump will be barred from selling shares in the merged company for at least six months.

It is possible that the board of directors could vote to allow Trump to sell shares earlier than that. And that board could be stocked with people close to Trump, including his son Donald Trump Jr., former wrestling company executive Linda McMahon, and Trump’s former trade representative Robert Lighthizer, according to a list of planned nominees.

If the board signed off on lifting the share lock-up period, that could quickly free up a large source of cash for Trump, who is the presumptive Republican presidential nominee this year.

Trump currently faces huge legal bills from his attorneys in criminal and civil cases, and damage judgments topping a half-billion dollars in three separate civil cases...............................
................

[Bernardo de La Paz]

4. Nope. Even if they sign off it's only 1 percent per quarter

https://www.democraticunderground.com/100218799721

[Kennah]

10. $30 million a quarter does not sound like it satisfies the bond

[RainCaster]

2. I'm looking Forward to this IPO

TSF will crash the market when that stock drops into the negative region.

[Bernardo de La Paz]

3. No. Won't happen. Get real. Stocks don't go negative and one stock does not control the market

Please don't write nonsense, or, since maybe it is so satisfying to indulge in it, write nonsense but don't post nonsense.

[sakabatou]

7. This is sarcasm, right?

[RainCaster]

11. Si

Glad someone figured it out.

[NanaCat]

17. This one piddling company isn't big enough

To crash the market if it fails.

And as someone earlier pointed out, stocks can't go negative.

The negative that can happen is people who lose money if the stock loses value. If you buy 100 shares at $50 each, you'll be upside down on it if the price of a share goes down to a penny; however, even at a penny, the stock is still in positive-value territory.

[MOMFUDSKI]

5. Good. Let him steal more $$$ from yet

one more source

[Squaredeal]

6. This stock can only go down in the months ahead.

Best to sell early.

[sakabatou]

8. Who wants to bet this stock will be worthless after a short while?

[Bengus81]

15. He'll DUMP shares like no one before. Once the lock up is over it will be carpet bombed

He has zero interest in building that biz,just LOOTING it.

[republianmushroom]

9. Trump Is in Line for a $3.5 Billion Windfall From Stake in Truth Social

https://www.democraticunderground.com/100218796435

Donald Trump’s supporters are pushing to hand him a nearly $3.5 billion windfall by driving up the value of his also-ran social-media platform, which is on the cusp of getting approval to list on the stock market.
More..

https://www.wsj.com/finance/stocks/trump-is-in-line-for-a-3-5-billion-windfall-from-his-stake-in-truth-social-eae58c9d?st=p8gyfmyqo7qmvu9&reflink=desktopwebshare_permalink

[E. Normus]

18. how?

can a company with about 7 million subscribers, doing way less than 100 mill in ad revenues per year possibly be worth 3-5 billion? How do those numbers add up?

[SouthernDem4ever]

12. I really hope the stock dumps and stays that way

Last edited Fri Mar 22, 2024, 01:17 PM - Edit history (1)

Trump insurrection media is a better description of his venue.

[keopeli]

13. DWAC is betting billions that TSF becomes President and his Pravda Social takes off. That's a very big bet indeed.

[Turbineguy]

14. Gambling against the United States.

[Javaman]

16. I predict an SEC investigation in the orange assholes future nt