Trump Media registers 5M shares for sale
$Trump Media & Technology(DJT)$ registered up to 5.1 million shares for future sale for some of the company's shareholders on August 26th.
DJT stock was down 3.6% in midday trading Monday, one of the biggest losers in the communications services sector.
The company registered 2.55 million shares for sale each of WorldConnect IPTV Solutions and JedTec, and just over 2,000 shares for investor relations consultant MZ Group.
(DJT will not receive any proceeds from any stock sales related to this registration.
Trump could end his six-month lockup period as early as Sept. 20, at which point he could sell some or all of his holdings in the company.
Trump owns 114.75 million shares, worth more than $2.5 billion at the current share price of $21.98, and holds about 60 percent of the company's outstanding shares.
The company also noted in Friday's 8-K filing that it is purchasing about 128,138,000 shares (totaling about $3 million) from certain insiders in order to pay taxes, and noted that board members Donald Trump Jr. and Linda McMahon have been named co-chairmen of the Trump 2025 Transition Corporation, which is preparing for a presidential transition following the November presidential election.
Overall, the fact that Trump Media Inc. has registered a large number of shares for sale suggests that a large influx of shares could be coming to the market in the future.Trump himself may also sell some of his holdings after the lockup period ends.
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