SARASOTA, Fla. - Trump Media & Technology Group Corp. (NASDAQ: DJT), the operator of the social media platform Truth Social, announced today the filing of a registration statement with the U.S. Securities and Exchange Commission (SEC). This filing pertains to the registration of shares of common stock and warrants for resale or initial issuance, following the company's business combination with Digital World Acquisition Corp. on March 25, 2024.
The securities being registered are held by existing security holders of TMTG or underlie securities held by them. TMTG has clarified that it will not receive any proceeds from the resale of securities by the selling security holders as per this registration statement. Moreover, no proceeds will benefit TMTG from the sale of any securities registered on the statement, except in the case of potential future cash exercises of any outstanding warrants.
It is important to note that the listing of an individual as a selling security holder in the registration statement does not necessarily indicate an intention to sell their shares. TMTG's directors and officers, including its affiliate President Donald J. Trump and other security holders, are currently under a lockup period or other restrictions preventing them from selling any shares.
The registration statement has been filed with the SEC but is pending effectiveness. Until the registration statement is declared effective, the securities cannot be sold, nor can offers to buy be accepted. The registration statement is subject to further amendment and completion.
This announcement is based on a press release statement.
InvestingPro Insights
As Trump Media & Technology Group Corp. (NASDAQ: DJT) navigates the process of registering shares for resale or initial issuance, investors are closely monitoring the company's stock performance. InvestingPro data indicates a mixed short-term performance with a -2.74% one-week total return and a -2.52% year-to-date total return, suggesting some recent market volatility. However, longer-term data paints a more positive picture, with a 8.78% one-year total return, highlighting potential investor confidence in the company's future prospects.
The average daily trading volume over the past three months stands at 109.81 million, which reflects substantial investor interest and activity in the stock. This level of liquidity is essential for investors who may be considering the timing of their trades in light of the pending registration statement.
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