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Trump Media & Technology Group Corp. Announces SEC Effectiveness of Amended Form S-1
Investors Interested in Exercising Warrants Should Contact Their Broker SARASOTA, Fla., June 18, 2024 (GLOBE NEWSWIRE) -- Trump Media & Technology Group Corp.
About this update from Trump Media & Technology Group Corp.
[{"type":"text","content":"Investors Interested in Exercising Warrants Should Contact Their Broker\nSARASOTA, Fla., June 18, 2024 (GLOBE NEWSWIRE) -- Trump Media & Technology Group Corp. (NASDAQ: DJT) (“TMTG” or the “Company”)—operator of the Truth Social platform, yet another of President Donald J. Trump’s iconic American brands—today announced that on June 18, 2024 the Securities and Exchange Commission (“SEC”) has declared effective the Company’s registration statement on Form S-1, related to the resale by certain selling securityholders of certain shares and warrants issued by and issuable from the Company (“Registration Statement,” File No. 333-278678). The Registration Statement, while effective, allows the covered selling securityholders to publicly resell the securities covered by the Registration Statement, subject to the satisfaction by selling securityholders of the prospectus delivery requirements of the Securities Act of 1933, as amended, in connection with any such resale. In addition, TMTG’s warrants covered by the Registration Statement have now become eligible for cash exercise. If all warrants covered by the Registration Statement are exercised for cash, TMTG may receive up to an aggregate of approximately $247 million in proceeds. Additionally, $40 million of restricted cash on the Company’s balance sheet will become unrestricted as a result of the Registration Statement becoming effective. These funds would supplement the more than $200 million in unrestricted cash the Company now retains. Investors interested in exercising their warrants should contact their registered broker. “Today marks another milestone for Truth Social,” said TMTG CEO Devin Nunes. “With our S-1 declared effective, we’re expecting to be well positioned to energetically pursue TV streaming, other enhancements to the platform, and potential mergers and acquisitions. With approximately 620,000 retail shareholders supporting our vision, the company looks forward to expanding quickly and robustly.” As part of the Registration Statement, all registered securities are either held by or underlie securities held by existing security holders of TMTG. TMTG will not receive any proceeds from the sale or resale of securities by the selling security holders pursuant to this Registration Statement, except in connection with any possible future exercise for cash of any outstandin...