THIRD, by SEC Rules & Law he technically (under his own name) can ONLY sell 1% of his holdings per month.
FOURTH, which means, that he can (& likely WILL) release some 1.6M shares over the next ~10 days.
FIFTH, because the END of this month coincides NICELY with the beginning of the next!
SIXTH, he could (& likely will) ASSIGN shares: Family, friends, etc., such that those shares COULD ALSO be LIQUIDATED -- & without the restrictive limits (of no more than 1% per month).
SEVENTH, if you read the latest SEC Filings he has ANOTHER ~40M shares coming to him for VERY EASY TO REACH VALUATIONS
Namely, if the share price stays about ~$12.50 * he gets 15M more shares if the VWAP (volume weighted average price) *during ANY 20-day stretch, in ANY 30-day period remains above $15.00, he gets ANOTHER 15M And if the VWAP hits $17.50 he receives ANOTHER 10M
OF NOTE: The share structure hasn't been updated since November You can BET a WAIVER on the RESTRICTIONS was given And you can BET that he WILL ASSIGN shares - TRUST, or otherwise - in order to CIRCUMVENT SEC regulation
• if the dollar volume-weighted average price (“VWAP”) of the Company’s common stock equals or exceeds $12.50 per share for any 20 trading days within any 30 trading day period, the Company shall issue to the TMTG Stockholders an aggregate of 15,000,000 Earnout Shares;
• if the VWAP of the Company’s common stock equals or exceeds $15.00 per share for any 20 trading days within any 30 trading day period, the Company shall issue to the TMTG Stockholders an aggregate of 15,000,000 Earnout Shares; and
• if the VWAP of the Company’s common stock equals or exceeds $17.50 per share for any 20 trading days within any 30 trading day period, the Company shall issue to the TMTG Stockholders an aggregate of 10,000,000 Earnout Shares.
Except for the disclaimer he provided saying not to use his evaluation that the bank should get their own. And the bank did get their own. And lent the money based on their own evaluation