Trump Media brings in over $105 million from warrants exercise
Shares of Trump Media, which runs former President Donald Trump's social-media platform, Truth Social, are down in premarket trading
Trump Media & Technology Group Corp. says that the cash exercise of warrants between June 20 and July 1, 2024, has resulted in over $105 million in cumulative proceeds.
Warrants let investors buy or sell stocks at a specific predetermined price within a specified time frame.
Related: Trump Media's stock erases early gains as markets react to Biden's uneven debate performance
In a statement released early Tuesday, Trump Media (DJT) also said that approximately $41 million of restricted cash has recently become unrestricted. As a result, Trump Media had more than $350 million in cash - and no debt - on its balance sheet as of July 1, 2024, the company said.
Shares of Trump Media, which runs former President Donald Trump's social-media platform, Truth Social, are down 3.6% Tuesday. The stock is up 80.9% in 2024 but is down 38.6% in the last three months.
https://www.morningstar.com/news/marketwatch/2024070266/trump-media-brings-in-over-105-million-from-warrants-exercise