{"id":6436,"date":"2024-03-22T11:08:42","date_gmt":"2024-03-22T15:08:42","guid":{"rendered":"https:\/\/greatamericanewsdesk.com\/?p=6436"},"modified":"2024-03-26T10:36:41","modified_gmt":"2024-03-26T14:36:41","slug":"report-trump-media-company-truth-social-to-become-publicly-traded-company","status":"publish","type":"post","link":"https:\/\/greatamericanewsdesk.com\/news\/report-trump-media-company-truth-social-to-become-publicly-traded-company\/njackson\/2024\/03\/","title":{"rendered":"Report: Trump Media Company Truth Social To Become Publicly Traded Company"},"content":{"rendered":"\n

On Friday, \u00a0shareholders voted in favor of making\u00a0Trump Media & Technology Group, the parent company of Truth Social, a publicly traded entity.<\/p>\n\n\n\n

According to Fox Business, shareholders voted in favor of Trump Media & Technology Group (TMTG) merging with its special purpose acquisition company (SPAC) Digital World Acquisition Corp., a publicly traded shell company.<\/p>\n\n\n\n

Last month, though, the SEC approved the merger.<\/p>\n\n\n\n

Trump Media & Technology Group first launched in October 2021. <\/p>\n\n\n\n

Trump launched Truth Social in February 2022, a year after he was banned from platforms such as then-Twitter, Facebook and Instagram, following Jan. 6, 2021. Those bans have been lifted but the former President has refused to rejoin.<\/p>\n\n\n\n

Fox Business<\/a> has more:<\/p>\n\n\n\n

\n

The merger approval means TMTG stock will trade on Nasdaq as “DJT” as early as next week. <\/p>\n\n\n\n

Former President Trump, the presumptive 2024 GOP presidential nominee, holds 78.7 million shares in Trump Media & Technology Group. His personal stake in the company at its current stock price of approximately $44.17 would be worth between $3 billion and $4 billion. <\/p>\n\n\n\n

There is a six-month lock-up on Trump’s shares, but the board could vote to waive that rule. <\/p>\n\n\n\n

The merger brings Truth Social, which describes itself as a free-speech platform and a “safe harbor” from censorship on other Big Tech platforms, approximately $300 million to expand the platform.<\/p>\n<\/blockquote>\n\n\n\n

The deal\u2019s approval comes as Mr. Trump is facing a Monday deadline to cover a $454 million penalty in a civil fraud case in New York. <\/p>\n","protected":false},"excerpt":{"rendered":"

On Friday, \u00a0shareholders voted in favor of making\u00a0Trump Media & Technology Group, the parent company of Truth Social, a publicly traded entity. According to Fox Business, shareholders voted in favor of Trump Media & Technology Group (TMTG) merging with its special purpose acquisition company (SPAC) Digital World Acquisition Corp., a publicly traded shell company. Last […]<\/p>\n","protected":false},"author":2,"featured_media":6437,"comment_status":"open","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[26],"tags":[384,8,143,358,853],"class_list":["post-6436","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-news","tag-business","tag-donald-trump","tag-social-media","tag-stock-market","tag-truth-social"],"yoast_head":"\nReport: Trump Media Company Truth Social To Become Publicly Traded Company - Great America News Desk<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/greatamericanewsdesk.com\/news\/report-trump-media-company-truth-social-to-become-publicly-traded-company\/njackson\/2024\/03\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:title\" content=\"Report: Trump Media Company Truth Social To Become Publicly Traded Company - Great America News Desk\" \/>\n<meta property=\"og:description\" content=\"On Friday, \u00a0shareholders voted in favor of making\u00a0Trump Media & Technology Group, the parent company of Truth Social, a publicly traded entity. 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