Shareholders for the shell company that controls Truth Social, the social media company founded by former President Donald Trump, have voted to go public, providing the Republican with upwards of a $4 billion windfall during a critical juncture in his ongoing criminal and civil cases.
A vote by owners of the Trump Media & Technology Group to merge with Digital World Acquisition Corp a special purpose acquisition company or SPAC, would see Truth Social listed on the NASDAQ Stock Exchange under the ticket “DJT.”
If valuations for the new entity hold, President Trump could end up with somewhere between $3.5 and $4 billion in new net assets, according to CBS News . Converting the on-paper value into cold hard cash could be tricky, however.
Trump would need to sign a waiver allowing for the liquidation of his stock before a six-month lockup period. Doing so would allow him to post the $454 […]
Read the Whole Article From the Source: trendingpoliticsnews.com
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