Posted on 03/21/2024 2:15:00 AM PDT by chuckee
Supporters who have driven up share price are expected to vote Friday to take company public
Donald Trump’s supporters are pushing to hand him a nearly $3.5 billion windfall by driving up the value of his also-ran social-media platform, which is on the cusp of getting approval to list on the stock market.
Trump’s winning lottery ticket would come from Truth Social, the social-media platform he launched in 2021. After a twisted path that included tens of millions of dollars in losses and insider-trading convictions, the shell company taking Truth Social public became the market’s latest meme stock. Trump’s supporters banded together to push up the stock, valuing Truth Social to a staggering $6 billion.
Truth Social could go public as soon as next week, but the deal still needs to be approved by shareholders. Even if that happens, Trump must hold his shares for six months.
Truth Social was created by Trump when he was bounced from the major social-media platforms. Since the presidential candidate was reinstated by Facebook and X, formerly known as Twitter, Truth Social has instead become a potential huge paycheck.
Truth Social’s parent is set to go public by combining with a special-purpose acquisition company, or SPAC. Its shareholders, nearly all Trump supporters, are expected to approve the merger Friday morning. Trump’s company could replace the shell company in the stock market as soon as Monday. The new ticker would be DJT, Trump’s initials.
If the deal goes through, Trump’s $3.5 billion windfall could ease his financial pressure and boost his political campaign.
(Excerpt) Read more at wsj.com ...
Will Trump be brought up on charges for inflating thr IPO price?
They bully any conservative that try to get into their circles. That's why, for example, on Election night, no conservative can get close to the "volunteers" controlling the processes at the polls, especially those in urban areas that are controlled by angry Leftists.
Conservatives, by nature, just want to be left alone. They have no appetite to fight for control of town committees, HOA boards, school boards, etc. They are happy to volunteer but if they feel their services are not needed or appreciated, they will move aside and let the bossy, brassy Leftists take charge as they now want nothing to do with any of it.
This is our undoing. We sit on our hands while they persecute Trump and anybody else that dares to fight against them. The result of Trump being persecuted is going to make any conservative think twice about going up against them. This is the REAL reason they are going after Trump. To make an example of him and discourage the rest of us from even trying.
I don't see a solution here. I don't see a scenario where conservatives will start using the same scorched earth tactics of the Left against them. We are too nice. Too civil. Too respectful of the Constitution. We just want to be left alone.
I’d prefer draw and quartering.
He should offer up his NY assets to raise the cash and de-anchor himself from the state that has proven to be hostile to him. (IMHO)
Stocks are a liquid asset. Real estate is not. So, Leticia really can’t seize the stock. Either he could potentially get a bond by letting the insurer hold 454 million of it until the case is overturned or he could simply sell 454 million of it leaving him 3 billion to put into his campaign. If he wins the csse, he gets the 454 million back from the court. Quite a nice war chest he would have
It was my understanding that he was restricted from selling his shares until 6 months after an IPO.
You bring the tar.
I’ll bring the feathers.
we’ll tidy up the Bar
and do it together.
We would have to build a new Supermax prison, just for them. Now THAT would be money well spent!
Well, he might have a YOOOOUUUUUUJ tax bill from the transaction. At least when he cashes out some of the profits.
**********************
What a country!! MAGA
He may be restricted from selling for 6 months. But there may be insurers willing to provide a 454 million bond if he puts a portion or all of the stock in escrow with them until the appeal is completed. The stock might decline in price but when the initial objective stock market valuation is 7 times more than the face amount of the bond, insurers would be more prone to consider issuance of the bond.
Trump should let her take Trump Tower and rebuild it in FL or TX
If he offers his shares through the S-1 (or S-3) as part of the IPO, all is good.
It is really a matter of disclosure.
Uncharted territory, for sure and the mother of all messes. The lienholders would line up and contracts would be jeopardized. Endless. But that witch would probably keep the interest accruing and the legal wrangling costs charged to President Trump. By merely seizing his licences to carry on, the damage would commence. Bigly.
BTTT!!!
Yes, but, apparently, not pledging them to secure a loan.
If the company is being list on the NY Stock Exchange, I think his shares are effectively in New York.
Can I catch up when you've run so far?
Bring angel feathers, and I'll bring the tar.
Being a shadow of a shadow of a dream,
what does it mean to feel or to scream?
https://www.youtube.com/watch?v=BgL7INnOArA
Ha! Very good.
“I don’t see a solution here. I don’t see a scenario where conservatives will start using the same scorched earth tactics of the Left against them. We are too nice. Too civil. Too respectful of the Constitution. We just want to be left alone.”
BINGO. EXACTLY RIGHT.
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