Here’s the TRUTH…
According to a NEWSMAX report, former President and 2024 GOP presidential nominee Donald Trump could be in for a $3 billion dollar cash injection if his social platform TRUTH Social goes public.
From NEWSMAX:
All eyes are on a vote scheduled for Friday by shareholders of Digital World Acquisition Corp., a publicly traded shell company that is looking to merge with the former president’s media business. The deal’s approval would open the door for Trump Media & Technology Group, whose flagship product is the social networking site Truth Social, to soon begin trading on the Nasdaq stock market in Digital World’s place.
If the merger is greenlit, which is likely, Trump stands to receive a sizeable payout. He would own most of the combined company — or nearly 79 million shares. Multiply that by Digital World’s current stock price of more $42, and the total value of Trump’s stake could surpass $3 billion.
The prospect of the deal arrives at a time the presumptive Republican presidential nominee is facing his most costly legal battle to date: a $454 million judgment in a fraud lawsuit.
But even if the Digital World merger is approved Friday, Trump wouldn’t be able to immediately cash out his windfall, unless some things change, due to a “lock-up” provision that prevents company insiders from selling newly issued shares for six months.
Despite calls for his return to X, Trump insists TRUTH Social will be the only social platform he uses.
More over at NEWSMAX:
Digital World Set to Vote on Trump's Truth Social IPO https://t.co/FrPAfqjLLz | 🔽 Read More 🔽
— NEWSMAX Money (@NEWSMAXMoney) March 22, 2024
