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TMTG sharesFortune
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78% Informative
Donald Trump owns 114.5 million shares of Trump Media & Technology Group , worth $1.85 billion .
The lockup period for Trump , who owns 57% of TMTG , will expire on Sept. 25 at the latest.
Trump is subject to a “lockup” provision that prevents insiders from selling stock in the newly public company.
TMTG struck a deal on July 3 to sell up to $2.5 billion worth of stock to Yorkville Advisors .
The deal, a “standby equity purchase agreement,” is common among new companies.
Yorkville will pay 97.25% of the share price, which it can then sell at full price on open market.
SPACs are generally not allowed to pre-coordinate with other companies.
The SEC eventually alleged in an ongoing lawsuit that Orlando made material misrepresentations on disclosure forms when he said he didn’t have any intended acquisition targets.
In February , Litinsky and Moss sued TMTG for allegedly withholding their 8.6% stake in the company by attempting to dilute their equity by issuing one billion new shares.
VR Score
76
Informative language
72
Neutral language
39
Article tone
semi-formal
Language
English
Language complexity
51
Offensive language
not offensive
Hate speech
not hateful
Attention-grabbing headline
not detected
Known propaganda techniques
not detected
Time-value
short-lived
External references
27
Source diversity
14
Affiliate links
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