Donald Trump Could Get Millions More Trump Media Shares If Stock Stays Afloat

Former President Donald Trump could gain tens of millions more shares in Trump Media & Technology Group if the stock hits certain performance thresholds.

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Trump stands to gain 36 million so-called earnout shares if Trump Media's dollar volume-weighted average price (DVWAP) is at least $12.50 for a 20 trading day minimum at a given period. any 30 trading day period, according to a filing Monday morning with the Securities and Exchange Commission.

This means that if, over a 20-day period in a 30-day period, the DVWAP exceeds $12.50, some shareholders will get 15 million shares. At $15, shareholders will receive 15 million. And at $17.50, they will receive 10 million shares. If all 40 million shares were issued, Trump would get 36 million, or 90%.

Trump Media, the company behind Truth Social, went public on Nasdaq under the symbol DJT on March 26, after completing its merger with Digital World Acquisition Corp., a special purpose acquisition company, or SPAC.

Upon completion of the merger, Trump received 78.75 million shares of common stock in exchange for his private shares in Trump Media, the filing said.

Trump Media shares closed 18% lower Monday at less than $27 per share, bringing the company's market capitalization down to about $3.65 billion, less than half of what it was at its highs from the first week of trading. The company has been listed on the stock exchange for 14 days on Monday.

The company also said it was recording the resale of nearly 21.5 million new shares of common stock issuable upon the exercise of warrants, up to approximately 146 million shares of common stock and up to approximately 4 million warrants to purchase common shares. Some shares held by insiders may still be restricted from trading until a lock-up agreement expires 5-6 months after the IPO date.

The number of shares Trump Media is offering for resale represents 256% of the company's free float, or regular shares it has issued to the public and are available to investors, and 107% of its outstanding shares as of January 31 . The company said that despite its closing price of $32.59 on April 12, the price at which the shares are offered to shareholders could still benefit from a positive rate of return on the common shares they purchased.

Just a week after its high-flying debut, Trump Media's stock began to fall after the company revealed an operating loss of nearly $16 million in 2023, plus interest expenses of $39. $4 million, while generating only $4.1 million in revenue. That compares with an operating loss of $23.2 million, plus interest expense of $2 million, on revenue of $1.5 million in 2022, according to regulatory filings. previous ones.

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