Trump Media Announces $69.4 Million in Initial Proceeds from Warrant Exercise

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 it expects to receive more than $69.4 million in proceeds from the cash exercise of warrants on June 20 and 21, 2024.

Such cash exercise 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 ofapproximately $247 million in proceeds. Additionally, $40 million of restricted cash on the Company’s balance sheet will become unrestricted as a result of the Registration Statement becoming effective. These funds are in addition to the more than $200 million in unrestricted cash held by the Company as of June 18, 2024.

https://www.globenewswire.com/news-release/2024/06/21/2902540/0/en/Trump-Media-Announces-69-4-Million-in-Initial-Proceeds-from-Warrant-Exercise.html