Trump Media & Technology Group Announces SEC Effectiveness Of Form S-1 Registration Statement; Allows Resale Of Shares And Warrants By Certain Securityholders; Potential Cash Proceeds Of Up To $247M From Warrant Exercises; $40M Restricted Cash To Become Unrestricted, Supplementing Over $200M In Unrestricted Cash
Portfolio Pulse from Benzinga Newsdesk
Trump Media & Technology Group (TMTG) announced that the SEC has declared its Form S-1 registration statement effective. This allows the resale of shares and warrants by certain securityholders, potentially generating up to $247 million from warrant exercises. Additionally, $40 million in restricted cash will become unrestricted, supplementing over $200 million in unrestricted cash.
June 18, 2024 | 8:27 pm
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POSITIVE IMPACT
Digital World Acquisition Corp (DWAC), the SPAC merging with Trump Media & Technology Group, may see increased volatility and potential price appreciation due to the SEC's effectiveness of the Form S-1 registration statement. This allows for the resale of shares and warrants, potentially generating up to $247 million from warrant exercises and converting $40 million in restricted cash to unrestricted.
The SEC's effectiveness of the Form S-1 registration statement is a significant regulatory milestone for TMTG, which is merging with DWAC. The potential cash proceeds from warrant exercises and the conversion of restricted cash to unrestricted cash are positive financial developments that could boost investor sentiment and drive DWAC's stock price higher.
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