Trump Media & Technology Group Corp (TMGT) shares plummeted after the entity filed to the U.S. Securities and Exchange Commission (SEC) to issue 21 million shares.
The parent company of social media platform Truth Social has approached the SEC with a Files S-1 Resale Registration Statement.
Trump shares nosedive after announcement
The shares in the company ended the day on the stock market a further 18% down on initial trading. The SEC filing states:
We are registering the resale by the Selling Securityholders named in this prospectus, or their permitted transferees, an aggregate of 146,108,680 shares of Common Stock, consisting of:
1,133,484 Placement Shares;Up to 14,316,050 Founder and Anchor Investors Shares;744,020 Conversion Shares;965,125
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