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In February 2024, United Atlantic Ventures (UAV), the partnership of TMTG co-founders Andy Litinsky and Wes Moss, sued TMTG for attempting to dilute their ownership stake by increasing the authorized stock from 120 million to 1 billion shares, thus lowering the value of UAV's shares from 8.6 percent to less than 1 percent. [5]
Trump Media stock slid as much as 16% on Monday after the parent company of Donald Trump's social media platform, Truth Social, filed to issue more than 21 million shares.
After TMTG combined with blank-check company Digital World Acquisition Corp., which runs the social media platform Truth Social, the notes were automatically converted to 625,000 shares of common ...
There are a couple reasons. First, as a recap: Trump Media and Technology Group (TMTG) recently merged with Digital World Acquisition Corp. in a SPAC, the ill-starred financial instrument that ...
With DWAC stock having risen in anticipation of this event to more than $42 per share, and Trump the largest holder with $79 million shares, he could soon find himself owning $3 billion in equity ...
Digital World Acquisition Corp. (DWAC), founded in 2021, was an American special-purpose acquisition company (SPAC), a shell corporation listed on a stock exchange with the purpose of acquiring (or merging with) a private company, thus making the private company public without going through the initial public offering process, which often carries significant procedural and regulatory burdens.
TMTG stock closed at $32.59 per share Friday, rallying late in the day to close up 0.6% — but it’s down 50.7% from its peak closing price of $66.22 per share on March 27, the day after it ...
Truth Social. Truth Social (stylized as TRUTH Social) is an alt-tech [ 4][ 5][ 6] social media platform owned by Trump Media & Technology Group (TMTG), an American media and technology company majority-owned by former U.S. president Donald Trump. [ 7] It has been called a " Twitter clone" that competes with Parler, Gab, and Mastodon in trying ...