President Trump’s social media company, Trump Media & Technology Group, has applied for re -registration for the sale of billions of dollars in shares in the company and which are detained in a trust supervised by his eldest son.
The registration press release, filed with the Securities and Exchange Commission on Monday, allows the trust to sell shares, but that does not mean that a sale is imminent. The nearly 115 million shares held in the trust were previously recorded last summer by Trump Media, which is the parent company of Truth Social, the social media platform that Trump used as his main online megaphone.
A few weeks after winning the presidential election, Trump transferred his actions to Trump Media to the Donald J. Trump Revocable Trust, who is controlled by his eldest son, Donald Trump Jr. The president said on several occasions that he did not intend to sell shares.
President Trump is Trump Media’s largest shareholder, controlling around 53% of his shares. The stock, which jumped after the elections, plunged more than 40% this year.
The trading scholarship approximately $ 19, Mr. Trump’s participation is worth nearly $ 2.2 billion. Trump Media’s action has changed wildly since it became a public a year ago. His trading models often seem to be divorced from the finance of the company, which has so far generated rare income and continues to publish quarterly losses.
In a press release, Trump Media said that the registration declaration was misinterpreted by the “inherited media” as an event, even if he had previously recorded the actions. The company said it was “a routine deposit that goes up” the actions for future sale.
The file has also registered for the sale of actions held by others. Other shareholders are Yorkville Advisors, an investment company in New Jersey who works with Trump Media to create retail products, including a negotiated fund in exchange for crypto. The file recorded just over 17 million shares that Yorkville had acquired from Trump Media as part of a long -term financing agreement.
PAM, PAM Bondi, is also included in the registration press release, 106,000 shares held by the American prosecutor. Ms. Bondi had acquired the actions in exchange for consultation works that she did for an shareholder of the acquisition company for cash purposes with which Trump Media merged to become a public.
In her ethical agreement filed with the Federal Office of Government Ethics, Ms. Bondi said that she was planning to depart from her equity participation in Trump Media within 90 days of her confirmation, which would be in early May.
