Trump Media Announces $69.4 Million in Initial Proceeds from Warrant Exercise
June 21 2024 - 5:20PM
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 it expects to receive more than $69.4 million in
proceeds from the cash exercise of warrants on June 20 and 21,
2024.
Such cash exercise became available after the Securities and
Exchange Commission (“SEC”) declared effective the Company’s
registration statement on Form S-1 on June 18, 2024 (“Registration
Statement,” File No. 333-278678).
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 are in addition to the more than $200
million in unrestricted cash held by the Company as of June 18,
2024.
Investors interested in exercising their warrants should contact
their registered broker.
About TMTG
The mission of Trump Media & Technology Group (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.
Investor Relations Contact:Shannon Devine (MZ Group | Partner -
MZ North America)Email: shannon.devine@mzgroup.us
Media Contact:press@tmtgcorp.com
About the Registration Statement
The offering of the securities covered by the Registration
Statement may only be made by means of a prospectus. The
Registration Statement and prospectus may be accessed through the
U.S. Securities and Exchange Commission's website at www.sec.gov. A
copy of the prospectus related to the offering may be obtained from
Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood,
NY 11717, or by telephone at (800) 353-0103.
The listing of an individual as a “selling securityholder” in
the Registration Statement does not mean such individual or entity
will sell their shares or is planning to sell their shares.
Notwithstanding registration of securities on the Registration
Statement, TMTG’s directors and officers, its affiliate President
Donald J. Trump, and certain other securityholders will remain
subject to a lockup period or otherwise restricted from selling any
shares at this time.
Non-Solicitation
This press release shall not constitute an offer to sell or the
solicitation of any offer to buy, nor shall there be any sale of
these securities in any state or jurisdiction in which such offer,
solicitation or sale would be unlawful prior to registration or
qualification under the securities laws of any such state or
jurisdiction.
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