Shares in Trump Media & Technology Group jumped in premarket trading on Monday after the company said it expects to receive more than $69.4 million from the recent cash exercise of warrants.The parent company of former President Donald Trump’s Truth Social platform announced Friday that these cash exercises were enabled after the SEC approved the company’s Form S-1 registration statement.
If all warrants under this statement are exercised for cash, the company could receive up to $247 million. Moreover, $40 million of restricted cash will become unrestricted due to the effective registration statement.Risk Disclosure: Trading in financial instruments and/or cryptocurrencies involves high risks including the risk of losing some, or all, of your investment amount, and may not be suitable for all investors.
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