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Trump Media & Technology Group (TMGT) stock price fell sharply after the company filed with the U.S. Securities and Exchange Commission (SEC) to issue 21 million shares.
The parent company of social media platform Truth Social approached the SEC as follows: File S-1 Resale Registration Notification Form.
President Trump’s stock price plummets after announcement
The company’s stock ended the day on the stock market, down an additional 18% from its opening price.of SEC filing situation:
The Company is registering for resale by the selling security holders described in this prospectus, or their permitted transferees, 146,108,680 shares of common stock, consisting of: 146,108,680 shares of common stock;
- 1,133,484 shares outstanding.
- Founder and Anchor Investor shares up to 14,316,050 shares.
- 744,020 convertible shares.
- 965,125 DWAC Compensation Shares.
- 690,000 TMTG compensation shares.
- 6,250,000 Alternative Financing Shares.
- Privately placed shares: 7,116,251 shares.
- Representative shares: 143,750 shares.and
- 114.75 million shares of President Trump’s stock.
As a result, the overall decline was nearly 60% of the sale price of the former president’s company stock.we report Earlier this month, it was revealed that the stock had initially fallen 20% in its first week of trading on the stock exchange.
Digital World Acquisition Corp. merged with Trump Media in late February with much fanfare. The stock in question peaked at $66.22, so a drop to $26.61 would be a devastating drop ahead of the possibility of further stock issuance.
A plunge of $52.77 would be costly for the company, but as we reported last week, Executives are still reaping large sums from this turbulent opening.
Promissory notes worth $6.25 million have been granted to key individuals in TMGT.
Chief Executive Officer Devin Nunez received $1.15 million, Chief Financial Officer Philippe Juan received $4.9 million, and Chief Operating Officer Andrew Northwall received $200,000.
It will be interesting to see if the SEC agrees to the stock issuance and whether it will definitely impact TMGT’s future.
image: ideogram.
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