Business

Trump’s social media group raises $ 1 billion from undisclosed investors




Donald Trump’s startup of social media announced on Saturday that they secured $ 1 billion in new investment as part of their ongoing effort to be listed via a blank check company.

Between the lines: None of the investors were identified, which is very unusual for this type of transaction.

Details: This is a so-called PIPE investment at around 34.36 dollars per share.

  • There is a 20% discount compared to SPAC’s 5-day trading average through December 1, but still much higher than when a typical SPAC trades before the merger is complete.
  • The PIPE price per share can be adjusted up or down, based on how the share performs when the merger ends.

What you should see: The Trump Media & Technology Group has still not named a CEO, although the former president is listed as chairman, and does not plan to publicly launch any products until early next year.



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