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TMTG: New Trump social media company to go public via SPAC merger
Written By Terry Ponick | Oct 21, 2021
Election 2020, The Deplorables Strike Back, Jim Cramer, Trump tweets, Peggy Noonan, RINO
Trump as the Destructor. Image by the author, based on screen capture of YouTube video trailer for the original “Ghostbusters.” (© 1984, Columbia Pictures. Fair use of image for satirical purposes.)
WASHINGTON – Donald Trump announced Wednesday that he is formally launching his long-awaited new media company. Among other ventures the Trump Media & Technology Group (likely listing symbol: TMTG) will go public via a SPAC merger transaction. The new company’s plans include the launch of its own social media platform, TRUTH Social. The new TRUTH Social app is already available for pre-order on Apple’s App Store.
TMTG is currently working on an agreement to go public by merging with Digital World Acquisition Corp. (NASDAQ:DWAC), an already existing Special Purpose Acquisitions Company (SPAC). Such transactions involve a merger between the two entities, with the SPAC generally adopting the new company’s name and symbol. The new company and surviving entity – in this case TMTG – effectively “goes public.” This avoids the time, cost, expense and SEC vetting procedures involved in a standard IPO.
Fighting the socialist Narrative
The new company’s mission tracks closely with what the former president has hinted at for months. He has consistently promised to create a rival to the Big Tech and Big Media monopolies that have teamed together for years to censor and exclude writers, scholars, politicians, personalities and voices – including Trump – from expressing views that stray from the now dominant socialist Narrative.
“We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced,” Trump said in a formal statement quoted in an Associated Press story. “This is unacceptable.”
AP: “TMTG has not set its sights low.”
“In addition to the Truth Social app, which is expected to soft-launch next month with a nationwide rollout early next year, the company says it is planning a video-on-demand service dubbed TMTG+ that will feature entertainment programming, news and podcasts.
“One slide in a TMTG presentation on its website includes a graphic of TMTG’s potential competitors, which range from Facebook and Twitter to Netflix and Disney+ to CNN. The same slide suggests that over the long term TMTG will also become a power in cloud computing and payments and suggests it will go head-to-head with Amazon, Microsoft, Google and Stripe.”
More on DWAC: The numbers
The AP states that DWAC is based in Miami, but brokerage firms list its formal contact location as San Diego. AP does provide additional financial information.
“[DWA’s] Sept. 8 IPO raised $287.5 million, according to a filing with the Securities and Exchange Commission.
“[Digital World Acquisition Corp] said it has raised roughly $293 million in cash, which it will use to grow TMTG’s ventures. Among the company’s biggest shareholders are several institutional investors, including Lighthouse Investment Partners, D. E. Shaw & Co., and Radcliffe Capital Management, according to an SEC filing.
“The deal has an initial enterprise value, a measure that takes into account a company’s total debts and assets, of $875 million, according to the release.”
Wednesday trading action in DWAC and related shares will be volatile
Trading on the NASDAQ, DWAC shares were trading at ~$14.44 per share Wednesday morning at 10 a.m. ET, up some 14% from Wednesday’s close. Associated warrants (DWACW) have jumped 684% (from $0.51 to $4.00 per warrant), and associated units (DWACU) are up 59% from Wednesday and currently trade at $16.20 per unit.
In general, warrants function like long-term options entitling the holder to acquire corporate shares at a specific price. Regarding DWAC’s units, we can define a unit as a share of stock plus an attached warrant. But in either case, if the owner does not exercise the warrant by a certain date, it expires worthless, just like an option.
Final note
Traders and investors should note that at this point, investing in this evolving entity involves a high level of risk. Given today’s news, trading in all these shares could involve highly volatility, due to political and business implications.
Tags: DWAC, SPAC merger, Terry Ponick, TMTG, Trump media
Terry Ponick
Biographical Note: Dateline Award-winning music and theater critic for The Connection Newspapers and the Reston-Fairfax Times, Terry was the music critic for the Washington Times print edition (1994-2010) and online Communities (2010-2014). Since 2014, he has been the Senior Business and Entertainment Editor for Communities Digital News (CDN). A former stockbroker and a writer and editor with many interests, he served as editor under contract from the White House Office of Science and Technology Policy (OSTP) and continues to write on science and business topics. He is a graduate of Georgetown University (BA, MA) and the University of South Carolina where he was awarded a Ph.D. in English and American Literature and co-founded one of the earliest Writing Labs in the country. Twitter: @terryp17
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TMTG: New Trump social media company to go public via SPAC merger
Written By Terry Ponick | Oct 21, 2021
Election 2020, The Deplorables Strike Back, Jim Cramer, Trump tweets, Peggy Noonan, RINO
Trump as the Destructor. Image by the author, based on screen capture of YouTube video trailer for the original “Ghostbusters.” (© 1984, Columbia Pictures. Fair use of image for satirical purposes.)
WASHINGTON – Donald Trump announced Wednesday that he is formally launching his long-awaited new media company. Among other ventures the Trump Media & Technology Group (likely listing symbol: TMTG) will go public via a SPAC merger transaction. The new company’s plans include the launch of its own social media platform, TRUTH Social. The new TRUTH Social app is already available for pre-order on Apple’s App Store.
TMTG is currently working on an agreement to go public by merging with Digital World Acquisition Corp. (NASDAQ:DWAC), an already existing Special Purpose Acquisitions Company (SPAC). Such transactions involve a merger between the two entities, with the SPAC generally adopting the new company’s name and symbol. The new company and surviving entity – in this case TMTG – effectively “goes public.” This avoids the time, cost, expense and SEC vetting procedures involved in a standard IPO.
Fighting the socialist Narrative
The new company’s mission tracks closely with what the former president has hinted at for months. He has consistently promised to create a rival to the Big Tech and Big Media monopolies that have teamed together for years to censor and exclude writers, scholars, politicians, personalities and voices – including Trump – from expressing views that stray from the now dominant socialist Narrative.
“We live in a world where the Taliban has a huge presence on Twitter, yet your favorite American President has been silenced,” Trump said in a formal statement quoted in an Associated Press story. “This is unacceptable.”
AP: “TMTG has not set its sights low.”
“In addition to the Truth Social app, which is expected to soft-launch next month with a nationwide rollout early next year, the company says it is planning a video-on-demand service dubbed TMTG+ that will feature entertainment programming, news and podcasts.
“One slide in a TMTG presentation on its website includes a graphic of TMTG’s potential competitors, which range from Facebook and Twitter to Netflix and Disney+ to CNN. The same slide suggests that over the long term TMTG will also become a power in cloud computing and payments and suggests it will go head-to-head with Amazon, Microsoft, Google and Stripe.”
More on DWAC: The numbers
The AP states that DWAC is based in Miami, but brokerage firms list its formal contact location as San Diego. AP does provide additional financial information.
“[DWA’s] Sept. 8 IPO raised $287.5 million, according to a filing with the Securities and Exchange Commission.
“[Digital World Acquisition Corp] said it has raised roughly $293 million in cash, which it will use to grow TMTG’s ventures. Among the company’s biggest shareholders are several institutional investors, including Lighthouse Investment Partners, D. E. Shaw & Co., and Radcliffe Capital Management, according to an SEC filing.
“The deal has an initial enterprise value, a measure that takes into account a company’s total debts and assets, of $875 million, according to the release.”
Wednesday trading action in DWAC and related shares will be volatile
Trading on the NASDAQ, DWAC shares were trading at ~$14.44 per share Wednesday morning at 10 a.m. ET, up some 14% from Wednesday’s close. Associated warrants (DWACW) have jumped 684% (from $0.51 to $4.00 per warrant), and associated units (DWACU) are up 59% from Wednesday and currently trade at $16.20 per unit.
In general, warrants function like long-term options entitling the holder to acquire corporate shares at a specific price. Regarding DWAC’s units, we can define a unit as a share of stock plus an attached warrant. But in either case, if the owner does not exercise the warrant by a certain date, it expires worthless, just like an option.
Final note
Traders and investors should note that at this point, investing in this evolving entity involves a high level of risk. Given today’s news, trading in all these shares could involve highly volatility, due to political and business implications.
Tags: DWAC, SPAC merger, Terry Ponick, TMTG, Trump media
Terry Ponick
Biographical Note: Dateline Award-winning music and theater critic for The Connection Newspapers and the Reston-Fairfax Times, Terry was the music critic for the Washington Times print edition (1994-2010) and online Communities (2010-2014). Since 2014, he has been the Senior Business and Entertainment Editor for Communities Digital News (CDN). A former stockbroker and a writer and editor with many interests, he served as editor under contract from the White House Office of Science and Technology Policy (OSTP) and continues to write on science and business topics. He is a graduate of Georgetown University (BA, MA) and the University of South Carolina where he was awarded a Ph.D. in English and American Literature and co-founded one of the earliest Writing Labs in the country. Twitter: @terryp17
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Ah ya here.. DWAC might be affiliated with another got do some dd first... I let you know...
Mick DWAC trumps media ticker... MNTX
Ha now is not the time do your DD....
TRUMP MEDIA
What up mick
MNTX UP 24% Big backlog growth... https://www.benzinga.com/node/19611606
MNTX up 20% WOOHOO....
Woohoo nice day MNTX...
Woohoo about time been accumulating quietly.... MNTX
Woohoo about time been accumulating quietly....
Not me Go TSLA and TRUMP!!!!!!
Yeah I think so. Any kind of heavy equipment at a cheap price I have been accumulating quietly over the years. Same as Mntx.
That would be whole lot of construction equipment and boomlifts...https://www.businessinsider.com/trump-considers-1-trillion-infrastructure-stimulus-plan-report-2020-6
This is so manipulated.... Why is this always down when it should be up????
About time some good news MNTX,,,,,
Nice start for the day MNTX.....
Hi Mick I have had alot history with MNTX in past. Nearly 20 years ago I remember buying some at a buck and half one my first stocks I ever bought...
MNTX has treated me well with profits. With Trump ready to sign for a 2 trillion dollar infasture bill still being worked on theres going be needing alot boomlifts for construction. Longterm investing for me....check it out....
MNTX Anything under 4.00 adding longterm.....
Hey mick you in this one. Been thinking about getting in long term.
Apple is buying their stock back to encourage stock owners that will end. Will TSLA ? Might be time to get in.jmo
Hey bud how ya been? Wow holy crap this went up for 2 months? It's a wonder the correction here. I been so busy haven't paid much attention to it but hey it gets in my price range I jump in. You know man I remember this like 48 bucks and peeps were bashing it got BK lol. Damn I wish I would have kept those shares and kept them. I even had $150 shares sold them. Anyways still alive and kicking just not in the market. I will definitely keep a eye on this for sure .
What a turd.....lol glad I got out..
What happens to the old debt holders that own this shell before it was a shell? Eventually they have to get paid correct?
It's been very fishy from the start of this run. Glad I got out on the high for a change lol. It dont add up imo.
Who's holding the bag now? I guess I was right. LOL
You know what's funny about this whole deal is that we haven't heard them in 3 or 4 years right? So now it's a custodian play? But somebody posted some new pictures of the trucking company going in and out of the office? So does that mean the original owner is still working and or it came up with enough funds now by using this run or that means it's not a custodian play? Why would they give it up? If it's a custodian play then it wouldn't be a trucking company. It's very questionable that's why I got out not to put it down or anything cuz I'm in the trucking business myself. I've been working with the company for over 20 years now so I know how truck theme works but that is odd that nothing was there before and now pictures are moving people are going in and out.
The Insiders are leaving or it's delusion. Who else would have that kind of shares and dumping them??? Everyone said to buy it 5 well here it is LOL I didn't and I'm glad I didn't. Been here long enough to know when you see it good price you better get out. Just my opinion. I'll believe it when I see it....
That's a shittyass looking fleet no wonder. I wouldn't expect anything great out of that nice pics....
Who's going to have a expensive bag to hold? BAWAHAHA
Wrong maybe double on speculation lol. 5 times peeps are out...... It's a dud lol
Na dont get tricked into MMS shuffling.
Yeah maybe we'll see I'm out I don't care really I just hate to see people lose money like you said 5 years later LOL but I would be cautious you know this ticker as well as I do. I've heard every story every kind of pump thing you can think of and I'm just tired of it so I'm out completely of the stocks I got no time for you watching this stuff got better things to do than to stare at a computer all day long looking at a percentage go up or down. Good luck be cautious.
LOL you could only pump this pig so long and then it sits. Gut doesn't do crap lol facts do.
Nah there's no hate I been thru all bullshit from penny scams and I have no time to wait lol. If this pig ever does run there's several ways that it has to go through just to get the ticker in their name and make it a clean shell. This will only run on speculation and I'm tired of the crap. I'll just be laughing.