Trump Media Announces Over $105 Million in Cumulative Proceeds from Warrant Exercise and Over $350 Million in Cash on its Balance Sheet
02 July 2024 - 11:00PM
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 the cash exercise of warrants between June 20 and
July 1, 2024, has resulted in more than $105 million in cumulative
proceeds. Additionally, approximately $41 million of restricted
cash has recently become unrestricted.
As a result, the Company had more than $350 million in cash—and
no debt—on its balance sheet as of July 1, 2024.
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 Warrant Exercise and the Registration
Statement
The cash exercise of warrants 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.
Investors interested in exercising their warrants should contact
their registered broker.
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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