Trump Media Announces Over $105 Million in Cumulative Proceeds from Warrant Exercise and Over $350 Million in Cash on its Balance Sheet
Trump Media & Technology Group Corp. (NASDAQ: DJT), the operator of the Truth Social platform, announced that the company has received over $105 million in cumulative proceeds from the cash exercise of warrants between June 20 and July 1, 2024. Additionally, approximately $41 million of previously restricted cash has now become unrestricted. As a result, the company reported over $350 million in cash and no debt on its balance sheet as of July 1, 2024.
- Over $105 million in cumulative proceeds from warrant exercises.
- Approximately $41 million of previously restricted cash is now unrestricted.
- Over $350 million in cash on the balance sheet as of July 1, 2024.
- The company has no debt.
- None.
Insights
Trump Media & Technology Group Corp. (TMTG) has recently announced that their cash exercise of warrants has brought in
Additionally, the removal of restrictions on
Warrants are a financial instrument that provides the right, but not the obligation, to purchase the company's stock at a specified price before a certain date. Such exercises often reflect investor confidence in the company's future prospects. The elimination of debt further strengthens the overall financial position, reducing financial risk and potentially increasing future profitability.
The added liquidity and absence of debt reported by Trump Media & Technology Group Corp. (TMTG) highlights a strong financial foundation. For investors, this stability can assure that the company has the capacity to fund new projects, increase operational efficiency, or return value to shareholders without the burden of interest expenses.
Truth Social, being the company's flagship platform, stands to benefit from this financial influx. The additional funds can be used to enhance the platform's features, improve user experience and expand marketing efforts to increase user base and engagement. This can directly influence potential revenue growth in the long term.
However, the competitive landscape of social media platforms is fierce. Even with substantial financial resources, TMTG must continuously innovate and differentiate Truth Social to capture and retain user attention. Depending on how effectively the company deploys its newfound capital, there could be notable upside potential for investors.
SARASOTA, Fla., July 02, 2024 (GLOBE NEWSWIRE) -- Trump Media & Technology Group Corp. (NASDAQ: DJT) (“TMTG” or the “Company”)—operator of the Truth Social platform, yet another of President Donald J. Trump’s iconic American brands—today announced that the cash exercise of warrants between June 20 and July 1, 2024, has resulted in more than
As a result, the Company had more than
About TMTG
The mission of Trump Media & Technology Group (TMTG) is to end Big Tech's assault on free speech by opening up the Internet and giving people their voices back. TMTG operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations.
Investor Relations Contact:
Shannon Devine (MZ Group | Partner - MZ North America)
Email: shannon.devine@mzgroup.us
Media Contact:
press@tmtgcorp.com
About Warrant Exercise and the Registration Statement
The cash exercise of warrants became available after the Securities and Exchange Commission (“SEC”) declared effective the Company’s registration statement on Form S-1 on June 18, 2024 (“Registration Statement,” File No. 333-278678). If all warrants covered by the Registration Statement are exercised for cash, TMTG may receive up to an aggregate of approximately
The offering of the securities covered by the Registration Statement may only be made by means of a prospectus. The Registration Statement and prospectus may be accessed through the U.S. Securities and Exchange Commission's website at www.sec.gov. A copy of the prospectus related to the offering may be obtained from Broadridge Financial Solutions, 1155 Long Island Avenue, Edgewood, NY 11717, or by telephone at (800) 353-0103.
The listing of an individual as a “selling securityholder” in the Registration Statement does not mean such individual or entity will sell their shares or is planning to sell their shares. Notwithstanding registration of securities on the Registration Statement, TMTG’s directors and officers, its affiliate President Donald J. Trump, and certain other securityholders will remain subject to a lockup period or otherwise restricted from selling any shares at this time.
Non-Solicitation
This press release shall not constitute an offer to sell or the solicitation of any offer to buy, nor shall there be any sale of these securities in any state or jurisdiction in which such offer, solicitation or sale would be unlawful prior to registration or qualification under the securities laws of any such state or jurisdiction.
FAQ
What is the latest financial update from Trump Media & Technology Group (DJT)?
How much cash did Trump Media & Technology Group (DJT) report on July 1, 2024?
Did Trump Media & Technology Group (DJT) have any debt as of July 1, 2024?
How much restricted cash became unrestricted for Trump Media & Technology Group (DJT)?
When did Trump Media & Technology Group (DJT) receive over $105 million in proceeds?
