CORP/BIZ SEC approves Trump Truth Social deal for up to $10 billion

[jward]

The Patriot Voice @TPV_John BREAKING! The SEC just APPROVED the merger of Truth Social, Trump Media Technology Group (TMTG) and Digital World Acquisition Corporation (DWAC) This is REALLY GREAT NEWS, because it means that Truth Social will now be traded publicly on the NYSE, and @realDonaldTrump just got $4 BILLION richer! Take that Judge Engoron, you Communist SCUMBAG! SEC approves Trump Truth Social deal for up to $10 billion The SEC approved a merger of Truth Social and the Digital World Acquisition Corporation. thepostmillennial.com 12:41 PM · Feb 21, 2024 86.4K Views

thepostmillennial.com

SEC approves Trump Truth Social deal for up to $10 billion​

Thomas Stevenson​

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The United States Securities and Exchange Commission (SEC) has approved a merger of former President Donald Trump's social media platform, Truth Social, with Digital World Acquisition Corporation (DWAC), which is a Special Purpose Acquisition Company (SPAC).

There were two years of delay leading up to the deal because of an investigation into the company by regulators. Now the SEC has approved the merger of approximately $10 billion after the long wait on Wall Street, according to reporting from OANN.
The Trump Media & Technology Group, which owned both companies, intends to take Truth Social public in an initial public offering (IPO). In order to have it go through the process, Trump had to give up a lot of equity in the platform.

According to SEC filings, Trump will own about $79 million in shares of the business. DWAC shares were trading at around $45-47 per share as of Tuesday. Depending on how the IPO will go, Trump's ownership ranges between 60-70 percent of the company.
Ahead of the election, the platform could become a boon for Trump depending on how the results of the primary and 2024 race play out.
Trump has full control of DWAC. Part of the agreement with the corporation is that no personal or political actions of his could disrupt his authority in the company even if such conduct was “dishonest, illegal, immoral, or unethical.”
The former president will have authority to choose board of director members and will be able to delegate control of the company. Trump would also possibly be able to obstruct actions that shareholders normally would need consent to.


SEC approves Trump Truth Social deal for up to $10 billion

 

[RB Martin]

Outstanding!

 

[TheSearcher]

 

[Armyvet75]

Outstanding!

 

[jward]

Brian Cates - Political Columnist & Pundit reposted

Green Lives Matter
@Ultrafrog17

The SEC just approved the merger for Trump's social media company.
In other words:
Trump is about to rake in the cash despite the fact that the entire system is attempting to drain him of all finances.
Everything they throw at him ends up failing and now he's about to become even richer than before.

https://twitter.com/i/web/status/1760382486138560828

View: https://twitter.com/Ultrafrog17/status/1760382486138560828?s=20

 

[Tex88]

 

[Dobbin]

Meh. Probably took on "attraction" with the rumor of a coming sale - and now the price adjusts to more "marketplace demand."

DJT (the man) will still do well - all considered.

Meanwhile you'll hear EVERY negative perturbation from CNN, Barrons, Forbes - everyone who was pooh-poohing the sale.

It will not be easy for the reorganized company. Trump carries such a "stigma" among the Woke Wall Street bunch: finding capital even to make payroll will be difficult - for a while.

They don't want ANYTHING "Trumpian" to succeed, of course.

Dobbin

 

[Blacknarwhal]

You would think this would be a perfect point to deny Trump resources, but I guess THEY aren't everything they're cracked up to be.

 

[Tex88]

 

[John Wall]

Give the man lemons, and he makes lemonade. This is EXACTLY why he must win this November, to reverse the controlled demolition of our nation under this traitorous administration.

 

[Tex88]

Give the man lemons, and he makes lemonade. This is EXACTLY why he must win this November, to reverse the controlled demolition of our nation under this traitorous administration.

Hmmm, IDK about all that...

Truth Social finances show company is "bleeding money like crazy"

Donald Trump's social media platform, Truth Social, has released its latest financial report.

www.newsweek.com

newsweek.com

Truth Social Finances Show Company is 'Bleeding Money Like Crazy'​

Kate Plummer

5–6 minutes

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A new filing from Donald Trump's social media company, Truth Social, shows the company is "bleeding money," according to one progressive journalist.

Posting on X, formerly Twitter, Talking Points Memo founder Josh Marshall reacted to the latest Securities and Exchange Commission (SEC) disclosure from Trump Media & Technology Group Corporation (TMTG), which runs Truth Social as its main asset.

The SEC filing showed the company, which Trump holds a nearly 60 percent stake in, made just over $4.1 million in revenue but racked up $58.2 million in costs in its latest operating year. It revealed an operating loss of $15.96 million and around $40 million in interest.
BF Borgers of Colorado, an auditor for the company, said the losses "raise substantial doubt about its ability to continue as a going concern," according to the filings.

Truth Social reported revenues of more than $3 million last year, with close to $50 million in losses.

 

[Tex88]

 

[West]

View attachment 469770

Looking at the one year chart. The stock actually doesn't look all that bad. Especially if you held this stock just last year when it was under $20 a share.

 

[Tex88]