{"id":25295,"date":"2024-03-25T22:47:55","date_gmt":"2024-03-26T03:47:55","guid":{"rendered":"https:\/\/ustower.net\/?p=25295"},"modified":"2024-03-25T22:48:00","modified_gmt":"2024-03-26T03:48:00","slug":"truth-social-parent-company-to-hit-stock-market-tuesday","status":"publish","type":"post","link":"https:\/\/ustower.net\/?p=25295","title":{"rendered":"Truth Social parent company to hit stock market Tuesday"},"content":{"rendered":"\n<p class=\"has-medium-font-size wp-block-paragraph\">The newly formed parent company for Truth Social will debut on the stock market Tuesday, bringing to a close a years-long merger that is set to net former&nbsp;<a href=\"https:\/\/thehill.com\/people\/donald-trump\/\"><u>President Trump\u2002<\/u><\/a>billions of dollars.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">A special-purpose acquisition company (SPAC)&nbsp;<a href=\"#b2iLibScrollTo\"><u>merged with Truth Social parent<\/u><\/a>&nbsp;Trump Media &amp; Technology Group Corp. on Monday following months of negotiations&nbsp;<a href=\"https:\/\/thehill.com\/business\/4110472-trump-linked-spac-agrees-to-pay-18m-penalty-in-federal-settlement\/\"><u>and legal challenges<\/u><\/a>, allowing it to make an initial public offering on the NASDAQ quickly.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">The SPAC, Digital World Acquisition Corp., saw its stock price&nbsp;<a href=\"https:\/\/finance.yahoo.com\/quote\/DWAC\/\"><u>climb about 35 percent<\/u><\/a>&nbsp;on the news Monday. The new company will retain the Trump Media name and go by the ticker DJT.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">Trump owns about 58 percent of the new company, a stake that\u2019s valued at about $3 billion. He is barred from selling shares for at least six months.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">The management of the Truth Social parent company, led by former Rep.&nbsp;<a href=\"https:\/\/thehill.com\/people\/devin-nunes\/\"><u>Devin Nunes\u2002<\/u><\/a>(R-Calif.), will not change.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">\u201cAs a public company, we will passionately pursue our vision to build a movement to reclaim the Internet from Big Tech censors,\u201d Nunes said in a statement. \u201cWe will continue to fulfill our commitment to Americans to serve as a safe harbor for free expression and to stand up to the ever-growing army of speech suppressors.\u201d<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\">The windfall is much needed for Trump, who struggled to find funds to pay a $464 million bond in his New York civil fraud case, putting his real estate empire at risk. The bond was&nbsp;<a href=\"https:\/\/thehill.com\/regulation\/court-battles\/4554791-trump-gets-surprise-financial-lifeline-with-175m-bond-decision\/\"><u>reduced on appeal<\/u><\/a>&nbsp;Monday to $175 million, which Trump&nbsp;<a href=\"https:\/\/thehill.com\/homenews\/campaign\/4554204-trump-says-hell-pay-175m-bond-set-by-court\/\"><u>said he will pay<\/u><\/a>.<\/p>\n\n\n\n<p class=\"has-medium-font-size wp-block-paragraph\"><a href=\"https:\/\/thehill.com\/policy\/technology\/4554778-truth-social-merger-stock-market-tuesday\/\">Thehill<\/a><\/p>\n","protected":false},"excerpt":{"rendered":"<p>The newly formed parent company for Truth Social will debut on the stock market Tuesday, bringing to a close a years-long merger that is set to net former&nbsp;President Trump\u2002billions of dollars. A special-purpose acquisition company (SPAC)&nbsp;merged with Truth Social parent&nbsp;Trump Media &amp; Technology Group Corp. on Monday following months of negotiations&nbsp;and legal challenges, allowing it [&hellip;]<\/p>\n","protected":false},"author":5,"featured_media":25296,"comment_status":"closed","ping_status":"closed","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[5783],"tags":[24056,27419,7789,3673,1230,24249],"class_list":["post-25295","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-sci-tech","tag-listing","tag-merger","tag-parent","tag-stock-market","tag-trump","tag-truth-social-2"],"_links":{"self":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25295","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/users\/5"}],"replies":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=25295"}],"version-history":[{"count":1,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25295\/revisions"}],"predecessor-version":[{"id":25297,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/posts\/25295\/revisions\/25297"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=\/wp\/v2\/media\/25296"}],"wp:attachment":[{"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=25295"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=25295"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/ustower.net\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=25295"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}