Replies to post #42741 on Trump Media and Tech Group (NO Politics Allowed) (DJT)

[IH Geek [Dave]]

Uh oh. I’ll reverse all of this if it doesn’t prove true. But, the DJT ticker is available in our symbol table now, so…

[eastunder]

Donald Trump's Truth Social to begin public trading on Nasdaq on Tuesday
5:36 PM ET, 03/25/2024 - United Press International
Former President Donald Trump's social media platform Truth Social is ready to begin trading Tuesday on the Nasdaq composite index under the symbol "DJT," according to a federal filing.

The newly merged social media platform -- formerly known as its shell company Digital World Acquisition Corp. -- will be officially styled as Trump Media & Technology Group Corp., according to a Securities and Exchange Commission filing for the Sarasota-based company.

Now the presumptive Republican presidential nominee for this year's election, Trump will own at least 58% of the new company in a financial stake valued at over $3 billion. However, under the current terms of the contract that can be altered, the former president is unable to sell his shares for six months.

The new company will be lead by CEO Devin Nunes -- a former Republican congressman who resigned his seat January 2022 to lead Trump's new social media company at the time. Nunes said that the company's management team "will continue to fulfill our commitment to Americans to serve as a safe harbor for free expression and to stand up to the ever-growing army of speech suppressor," according to the SEC.

By comparison, Truth Social -- which had about 494,000 mobile app users in February and 648,000 unique website visits -- lags behind and has experienced a user decline versus other social media giants such as Meta or TikTok that boast billions of active users.

University of Florida business professor Jay Ritter told USA Today that he believes Trump's stock valuation is unusual for a company that has shown so much financial loss since its 2021 launch.

Trump is being widely thought to use a stock buy-out to pay for part of his $464 million civil fraud judgment which was cut down Monday to $175 million.

"This is a stock where the market price is divorced from fundamental value," said Ritter, who estimated that the stock's value is only $2 and will likely remain volatile for some time.

[eastunder]

Digital World Acquisition Corp. and Trump Media & Technology Group Corp. Announce Completion of Business Combination

Under 99.1 Press Release, dated March 25, 2024.

https://www.sec.gov/ix?doc=/Archives/edgar/data/1849635/000119312524076188/d817032d8k.htm

TMTG to Begin Trading on the Nasdaq Stock Market LLC on Tuesday, March 26, 2024

Under the Ticker Symbol “DJT”

Miami, FL and Sarasota, FL, March 25, 2024 — Digital World Acquisition Corp. (“Digital World” or the “Company”) and Trump Media & Technology Group Corp., a Delaware corporation (“Trump Media & Technology Group Corp.” or “TMTG”) announced today the completion of their business combination (the “Business Combination”).

Digital World now operates as “Trump Media & Technology Group Corp.” following the successful completion of the Business Combination. Beginning on Tuesday, March 26, 2024, the common stock and public warrants of TMTG are expected to begin trading on the Nasdaq Stock Market LLC (“Nasdaq”) under the ticker symbols “DJT” and “DJTWW,” respectively.

TMTG, as a publicly traded company, will continue to be led by Chief Executive Officer, Devin G. Nunes, and its existing management team.

“Today marks a pivotal moment not only for DWAC and TMTG as a combined entity, but for the broader media and technology landscape. I am thrilled to be stepping into the role of Director at this transformative time for our combined company. Working alongside Devin Nunes, as CEO of TMTG, presents an extraordinary opportunity to shape the future of media and technology. Devin’s leadership and vision for what we can achieve together are truly inspiring. I am confident that under his guidance and the leadership team of TMTG, our combined strengths are expected to lead us toward groundbreaking achievements. This partnership represents not just a strategic alignment, but a shared commitment to excellence and innovation. I look forward to contributing to our journey ahead, driving forward initiatives that will redefine our industry and create meaningful connections and value across the globe,” said Eric Swider, former CEO of Digital World, new director of TMTG.

“As a public company, we will passionately pursue our vision to build a movement to reclaim the Internet from Big Tech censors,” said TMTG CEO Devin Nunes. “We will continue to fulfill our commitment to Americans to serve as a safe harbor for free expression and to stand up to the ever-growing army of speech suppressors. As we mark this milestone, I want to particularly thank Eric Swider for his unflagging dedication to our deal and our cause.”

Advisors

Paul Hastings LLP acted as legal counsel to Digital World.

Nelson Mullins Riley & Scarborough LLP acted as legal counsel to TMTG.

EF Hutton, LLC served as sole underwriter and exclusive placement agent for Digital World.

About Digital World Acquisition Corp.

Digital World Acquisition Corp. (Nasdaq: DWAC) was a special purpose acquisition company formed for the purpose of effecting a merger, capital stock exchange, asset acquisition, stock purchase, reorganization or similar business combination with one or more businesses. To learn more, visit www.dwacspac.com.

About TMTG

The mission of TMTG is to end Big Tech’s assault on free speech by opening up the Internet and giving people their voices back. TMTG operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations.

[IH Geek [Dave]]

By the way, I think FINRA is only OTC. This is a NASDAQ listing before and after.