Trump Loses Big Money During Stormy Trial

It has been noted that former President Donald Trump’s media company had its shares plummet after filing for millions more in stock via Mediaite.



In pre-trading hours on Monday, Trump Media & Technology Group dipped more than 10%, falling from approximately $29 to $27. The drop came as Trump headed into a Manhattan courtroom where he faces more than 30 charges over a hush money payment made to adult film actress Stormy Daniels to cover up an alleged affair. The former president has had denied any misconduct and the affair.

The latest tumble for Trump Media, which owns Truth Social, follows other plummets in value for the company since it went public. The company’s value took a major hit after an SEC filing revealed Truth Social had brought in $4 million in revenue last year, but lost more than $50 million. Trump Media has tumbled more than 40% in value since debuting on Nasdaq.

CNBC reported that a filing revealed millions more in common stock was requested for Trump Media on Monday.

CNBC reported:

The company’s intent to issue more common stock was made public Monday morning in a “preliminary prospectus” filed to the Securities and Exchange Commission. The shares cannot be issued until a registration statement with the SEC goes into effect.

The filing describes a plan to offer more than 21.4 million shares of common stock, issuable “upon the exercise of warrants,” the filing shows. Stock warrants give their holder the ability to buy shares at a predetermined price within a certain time frame.

They are also seeking the resale of up to approximately 140 million shares from “selling securityholders.” One of the listed “securityholders” in the document.

“The selling securityholders may offer and sell, from time to time, any or all of the shares of common stock or warrants being offered for resale by this prospectus, which consists of: 146,108,680 shares of Common Stock,” the filing states.

Barry Russell
Barry Russell
A dedicated pro wrestling follower for more than a decade

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