Trump Media & Technology Group today filed an amended S-1 disclosing the potential sale of up to 146,108,680 shares, the issuance of up to 14,375,000 shares upon the exercise of public warrants and the issuance of up to 4,061,251 warrants to purchase stock.
“The number of shares of common stock being offered for resale in this prospectus exceeds the number of shares of common stock constituting our public float,” the company said in the filing. “The resale securities represent approximately 393% of our public float and approximately 82.6% of our outstanding shares of common stock as of June 10, 2024 (after giving effect to the issuance of shares of common stock upon exercise of the warrants).”
Of the total shares being registered for potential sale, 1,133,484 shares were originally issued to ARC Global Investments II in a private placement. Additionally, the registration covers up to 14,316,050 founder shares to ARC in connection with the initial public offering of Digital World Acquisition, the SPAC that took Trump Media public in March.
The laergest portion of the registration amount covers 114,750,000 shares held by ex- president Donald Trump, consisting of 78,750,000 shares he received at the closing of the merger and 36 million earnout shares issued to Trump in April based on the performance of the stock, as well as up to 4,061,251 warrants.
Trump and other insiders remain subject to a lock-up that restricts them from selling shares at this time. The lock-up expires in September. Read more.
