President Donald Trump could be set for a $1.25 billion windfall if his social media company Truth Social can avoid significant negative volatility over the next two days. If the shares remain at or above $17.50 until the close of trading on Tuesday, Trump is due to acquire an additional 36 million company shares. As of midmorning on Monday, shares stood slightly below $36.
According to filings with the Securities and Exchange Commission, the Trump Media & Technology Group–which controls Truth Social–could issue more shares to those investedin the company before its SPAC merger, including Trump himself. Awarding these shares is conditioned on the steady maintenance of an average price per share exceeding $12.50 for at least 20 of its first 30 trading days.
Tuesday will mark the 20th trading day since the merger, and the share price has remained well above the stipulated figure.
If the share price stays above $17.50, 40 million additional shares will be issued. Trump, who owns most of the company’s stock, would be eligible to receive 90 percent of the newly issued certificates, which amounts to 36 million shares. At current prices, this would amount to a $1.25 billion windfall for the former President.
God Bless You and Your Families!
Love,
Please think about donating below.