#GagOrder Against #Trump Is Expanded to Stop Attacks on Judge’s Family
Donald Trump had in recent days targeted the daughter of Juan #Merchan, the judge overseeing his #criminal trial in Manhattan, in blistering social media posts.
Yes, the company went public. No, it is not a financial success—or even a lifeboat.
Debuting on the charts w/a “DJT” ticker, #TrumpMedia saw a 55% surge in valuation right after markets opened.
Huge influx of cash, right? w/Trump holding ~79M shares, equating to 58% of available stock, the #SPAC debut balloons his #NetWorth by nearly $5B; there were ~136M shares outstanding post-merger.
What a turnaround, right after the lamestream media kept claiming #Trump was in the tank! Another genius business move from the Donald, right in time for him to cover his somewhat discounted #legal bills!
Except … not really, bc a lot of what powered the 1st-day boom is not tenable in the longer term—much like TruthSocial’s business itself.
To put it simply: The success of #TrumpMedia’s #IPO has less to do w/its viability as an enterprise & more to do w/the fandom surrounding that famous name.
#TrumpMedia merger wins investor approval, netting #Trumppotential windfall
TFG will own ~60% of #TruthSocial, which at its current share price would be worth ~$3.3B.
A lockup agreement will prevent him from selling the shares for 6 months.
A long-delayed move that will open the owners of TruthSocial to stock-market investors & grant Trump a stake worth billions he could use to pay down his #legal#debts.
The vote Fri by investors in #DWA authorized the #SPAC, to merge w/ #TrumpMedia & #Tech Grp as part of a process that will avoid a more traditional #IPO. #Trump will own ~60%, which at DWA’s current share price would be worth ~$3.3B. He & other investors could earn tens of millions more shares through an “earnout” provision tied to the stock’s performance, DWA said in an #SEC filing.
The merger will net TrumpMedia $300M that DWA initially raised from investors.
The classified documents case will make use of a recording which indicates that #Trump had a highly sensitive document which he knew was NOT declassified.
The chain of evidence looks strong and while there is much news media spinning, a court of law is more rigorous environment where focus on fact is primary