′’s media company public, a long-delayed move that will open the owner of Truth Social to stock-market investors and grant Trump a stake worth billions of dollars.
But a lockup provision in the merger agreement will prevent Trump and other major shareholders from selling their shares for six months unless he is granted a waiver by the post-merger company’s board. Any lockup change or waiver will be decided by the post-merger company’s board, which will be stocked with Trump allies, an SEC filing shows.
The post-merger company, which will be called Trump Media, could begin trading on the Nasdaq stock exchange as soon as Monday under the ticker symbol of Trump’s initials, DJT. That symbol was also used for Trump’s only other public company, Trump Hotels and Casino Resorts, which collapsed into a penny stock in less than a decade and filed for bankruptcy in 2004.
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