ANDIn a document from the stock exchange regulator (SEC), the company indicated that the listing will now be made on the Nasdaq index and through the Trump Media & Technology Group (TMTG).
This company resulted from the merger of Truth Social and Digital World Acquisition Corp (DWAC, one of the so-called instrumental companies that aim to facilitate stock market operations), which took place last Friday.
Truth Social, which is an imitation of the social network X on which Trup publishes daily, is expected to start trading at a valuation of $5.5 billion.
If so, Trump’s stake, which is around 60%, is valued at around three billion dollars.
In any case, Trump is prevented from selling shares for at least six months — which prevents him from using the money from their eventual sale to pursue his numerous legal cases.
Truth Social’s listing comes in a turbulent week for Trump. Just today, a New York appeals court authorized him to pay a lower bail than that set at the beginning of a civil fraud case.
Now, Trump has to pay 175 million dollars in 10 days, instead of the initial 464 million, while another appeal is being considered, relating to a sentence that obliges him to pay 454 million dollars.
It was also announced today that the trial, in New York, for 34 crimes related to irregular payments to pornographic film actress Stormy Daniels in 2016, will begin on April 15th.
Read Also: Court accepts postponement of payment of Trump’s 400 million sentence
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Eighth consecutive year Consumer Choice for Online Press and elected product of the year 2024.
* Study by e Netsonda, Nov. and ten. 2023 product of the year – pt.com
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