Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty Guilty

[RDCanecutter 26411]

23 hours ago, Brisketexan said:

Be prepared for a stack of $4.9999 million transactions.

That's what I'm gonna do.

[C-Man 27214]

2 hours ago, TwiceHorn said:

Well, in the scenario I envision, the government dismisses voluntarily to avoid going to trial on wrong jury instructions.  The government doesn't have unfettered discretion to do that, it needs court permission.  And, in some cases, the dismissal might be with prejudice (meaning can't be re-indicted).  So this would be a last ditch strategery.  Classically, "jeopardy" does not attach until the jury is sworn, meaning up until then, usually, any dismissal can be re-indicted.

There's all kinds of dismissal types and outcomes, mistrials, voluntary, prosecutor misconduct, blah blah blah.  

The other possibility in the event of terrible instructions is a mandamus appeal, which is a kind of rare deal that I'm not even sure is available.

Bad jury instructions, usually in a subtle way, are common in civil cases and a fruitful area for appeal.  When you get stuck with shitty ones and you're the government in a criminal case, I'm not sure what you do.

So, we've pretty much all determined she's not the sharpest knife in the drawer but this seems potentially like it could be a way to get the orange dipshit off the hook on some bullshit procedural fuckup. It's not likely she dreamed this up on her own so could she be acting on some back-room political operative's directive, somebody who likely knows exactly what the fuck he's doing? (Or am I wading into tin-foil hat territory?)

[dcbc 14471]

42 minutes ago, C-Man said:

So, we've pretty much all determined she's not the sharpest knife in the drawer but this seems potentially like it could be a way to get the orange dipshit off the hook on some bullshit procedural fuckup. It's not likely she dreamed this up on her own so could she be acting on some back-room political operative's directive, somebody who likely knows exactly what the fuck he's doing? (Or am I wading into tin-foil hat territory?)

First statement: true

 

Remainder: don't nobody know shit but Cannon and whatever cabal is pulling the strings of justice on this one, or, just as likely,  Cannon alone or not at all,  and it's all flowing from the answer to the first statement. 

 

I think the latter two (either she's acting based on bias or she's acting based on incompetence are the most likely.  Optimistically, I think its a mixture of incompetence and erring on the side of the defendant in the first-filed prosecution of a former President in U.S. history.

 

If there's money involved, it likely will come to light at some point, and she's not as robust a figure as Clarence Thomas to withstand the fallout.

 

 

Edited March 22 by dcbc

[SydneyCarton 48075]

1 hour ago, dcbc said:

Who's a good boy?  You're a good boy!  Yes you are!  Want to go for a walk?  Outside?  Car ride?  Squirrel!!!

 

That make sense?

 

In all seriousness, I believe it's called "money laundering."  And I hope the SEC is watching this go down with great interest.

I fucking doubt it. They investigated and then approved the sale recently. 

[tbone_ 14115]

Spacs aren’t money laundering.

[The Dog 44020]

 

[dcbc 14471]

42 minutes ago, tbone_ said:

Spacs aren’t money laundering.

Not traditionally.  But consider the beneficiary.  And, like a makeshift dildo, can't anything be used for attempted money laundering if you're dumb/brave enough?

 

Also, if the lead-in, dog-baby-talk to that earlier post wasn't a tell, I was being quite facetious, even after the "In all seriousness line."  It was a statement based on an assumption of bad faith among all those involved.

Edited March 22 by dcbc

[Gatorubet 30209]

4 hours ago, tbone_ said:

Check out this article from USA TODAY:

Trump's Truth Social set to go public after winning merger vote

https://www.usatoday.com/story/money/2024/03/22/donald-trump-truth-social-merger-public/73066699007/

Quote

It's unclear how and when these cases will be resolved. Even if the deal gets completed next week, Trump will not be allowed to sell any of his shares in the combined company for six months or borrow against them, based on terms he previously agreed.

[The Dog 44020]

and if he were to sell them before then he would wipe out all of the MAGAts who invested in the company.

not that he cares...

[Fudge Nuggets 19190]

6 hours ago, Macanudo said:

Careful, lots of Surly lawyers aren't really lawyers.  And most of the actual lawyers here post way to much to be good lawyers.

And when not posting here, they are wasting time billing clients to read all the briefs on dotard's shenanigans.

[speed817 19256]

46 minutes ago, The Dog said:

 

[dcbc 14471]

21 minutes ago, The Dog said:

and if he were to sell them before then he would wipe out all of the MAGAts who invested in the company.

not that he cares...

*Serious post: I have the most basic understanding, but don't the spac investments go into escrow until the acquisition and IPO of the acquired entity is complete?  The fact that he already has applied to sell his interest seems like it would put a pretty definite timeline on the "dump" part of this equation.  Seems like any benefit as an investment vehicle will be quite short lived given the market share/size of T/S.  

 

Clearly, there's a reason I'm not in this business.

Edited March 22 by dcbc

[The Dog 44020]

2 minutes ago, dcbc said:

*Serious post: I have the most basic understanding, but don't the spac investments go into escrow until the acquisition is complete?  The fact that he already has applied to sell his interest seems like it would put a pretty definite timeline on the "dump" part of this equation.  Seems like any benefit as an investment vehicle will be quite short lived given the market share/size of T/S.  

 

Clearly, there's a reason I'm not in this business.

apparently he can sell if a certain percentage of investors approve it.

more likely he'll try to use this as collateral for posting a bond - which he'll have to do quickly because this stock is gonna crash fast.

[tbone_ 14115]

Not traditionally.  But consider the beneficiary.  And, like a makeshift dildo, can't anything be used for attempted money laundering if you're dumb/brave enough?
 
Also, if the lead-in, dog-baby-talk to that earlier post wasn't a tell, I was being quite facetious, even after the "In all seriousness line."  It was a statement based on an assumption of bad faith among all those involved.

Simply grifting at the highest level imo

[Keef 764]

I know nothing about Truth Social, the SPAC entity, or the investors, but pretty much every company that goes public has a 6 month "market standoff" or "lock-up", where employees and shareholders agree not to sell any shares on the public market for 6 months.  The idea is that if you get to an IPO, you don't want all your key stakeholders cashing out and messing with the early trading post going public by flooding the market with shares.  I can't imagine the investors and bankers would let him sell all of them because that would hose everyone else, but maybe they permit some portion to help him with the liquidity crunch?  These are, after all, investors and bankers who are working with Truth Social, so I'm sure they're all probably knee deep in the cult.

[dcbc 14471]

3 minutes ago, tbone_ said:

Simply grifting at the highest level imo

. . . with oversight from the SEC, which is an odd twist.  Hiding in plain sight?

[dcbc 14471]

5 minutes ago, Keef said:

I know nothing about Truth Social, the SPAC entity, or the investors, but pretty much every company that goes public has a 6 month "market standoff" or "lock-up", where employees and shareholders agree not to sell any shares on the public market for 6 months.  The idea is that if you get to an IPO, you don't want all your key stakeholders cashing out and messing with the early trading post going public by flooding the market with shares.  I can't imagine the investors and bankers would let him sell all of them because that would hose everyone else, but maybe they permit some portion to help him with the liquidity crunch?  These are, after all, investors and bankers who are working with Truth Social, so I'm sure they're all probably knee deep in the cult.

But doesn't the SPAC buy his shares and then take the company public itself.  I saw the six month hold mentioned above, but I thought he cashed out when the SPAC acquired T/S.  

 

I'm like a different Donny here, out of my element.

Edited March 22 by dcbc

[Sawbonz 27546]

1 hour ago, tbone_ said:

Spacs aren’t money laundering.

You saying a spac couldn’t be used to launder money?

[dcbc 14471]

2 minutes ago, Sawbonz said:

You saying a spac couldn’t be used to launder money?

It seems not an ideal way to do it, which drives my assumption that that's exactly what's going on.  Habba-Dabba set the whole thing up.  

Edited March 22 by dcbc

[BamaATL 16593]

Just now, Keef said:

I know nothing about Truth Social, the SPAC entity, or the investors, but pretty much every company that goes public has a 6 month "market standoff" or "lock-up", where employees and shareholders agree not to sell any shares on the public market for 6 months.  The idea is that if you get to an IPO, you don't want all your key stakeholders cashing out and messing with the early trading post going public by flooding the market with shares.  I can't imagine the investors and bankers would let him sell all of them because that would hose everyone else, but maybe they permit some portion to help him with the liquidity crunch?  These are, after all, investors and bankers who are working with Truth Social, so I'm sure they're all probably knee deep in the cult.

What I know of Truth Social is that the 3 billion number comes from their "expected" IPO of $50 per share, Trump's portion of the IPO would in theory at that IPO level equal $3 billion.   However, this is a pure fantasy.  First, Truth Social operates at a negative at current, per quarter, as of earlier this year, they were losing as much as $10 per active user (which by the way, seems near fucking impossible).  The total number of registered Truther's or whatever the fuck they are, is right around 10 million; however, active users are only about 2 million.  

So what the media would have you believe is that a platform with 2 million users, and no clear path to growth or profitability is somehow worth between 6 and 10 billion. and to top it off, they somehow lose money per user.  Forgive me for calling bullshit.  2 million people isn't nothing, but billions, not so much, in actuality, not even hundreds of millions.  

[The Dog 44020]

this is a 'pump and dump' scheme.

1. get suckers to inflate the price

2. dump the shit and wipe out the suckers

[Sawbonz 27546]

3 minutes ago, The Dog said:

this is a 'pump and dump' scheme.

1. get suckers to inflate the price

2. dump the shit and wipe out the suckers

[Rimbo 25919]

1 hour ago, Gatorubet said:

 

54 minutes ago, The Dog said:

and if he were to sell them before then he would wipe out all of the MAGAts who invested in the company.

not that he cares...

ah but it would be collateral he could use, right?

[Sawbonz 27546]

Are there any disclosure rules for entities or individuals purchasing more than a certain dollar amount of stock?

 

Also, what if you hold an IPO and no one shows up? In other words presumably they have a target price per share. If bids aren’t close to that amount, is there a minimum below which they can refuse to sell the stock, or do they have to put a set amount of the stock out there and take whatever the market will pay?

Edited March 22 by Sawbonz

[The Dog 44020]

https://www.nytimes.com/2024/03/22/business/trump-media-merger-truth-social.html?smid=threads-nytimes

Spoiler

Former President Donald J. Trump’s social media company — and the parent of his favorite communications platform, Truth Social — became a public company on Friday through a merger that will raise Mr. Trump’s wealth by billions of dollars and potentially help pay his mounting legal bills.

Trump Media & Technology Group is poised to debut on Wall Street at a market value of around $5 billion — based on the $37 share price of its merger partner, Digital World Acquisition Corp. Given that Mr. Trump owns more than 60 percent of the company, his overall net worth will increase by $3 billion — instantly doubling his wealth from the $2.6 billion estimate by Forbes magazine in October.

So far, those gains are on paper, and Mr. Trump is unlikely to be able to quickly turn it into cash because of restrictions in the merger agreement that prevent major shareholders from selling shares for at least six months, or using them as collateral for loans. But because Mr. Trump controls so much of Trump Media, and because his allies are expected to make up a majority of the new board, they could waive those restrictions on his request.

The question of where Mr. Trump can raise cash has become an urgent one because he is on the hook for hundreds of millions of dollars of legal bills tied to the multiple cases against him. Mr. Trump is facing a Monday deadline to cover a $454 million penalty in a civil fraud case brought by the New York State attorney general, which accuses him of greatly inflating the value of his real estate holdings in deals with banks.

 

If Mr. Trump cannot come up with the cash or a bond to cover the penalty while he appeals the ruling, the attorney general’s office could seize some of his properties.

Trump Media’s board might be reluctant to allow Mr. Trump to sell shares early as that would likely deflate the company’s share price. But lifting the restriction on using shares as collateral would help him secure a bond and minimize the negative impact on the stock price.

Before the merger closed, Mr. Trump was chairman of Trump Media but neither it nor Digital World disclosed whether he will continue to retain the title. Either way, Mr. Trump will hold enormous sway over the company as the company’s new seven-member board includes Mr. Trump’s eldest son, Donald Trump Jr., and three former members of his administration. His 79 million shares give him a large majority stake in the company and his brand is critical to the success of Truth Social, which has become his main megaphone with communicating to his supporters. 

 

There is no guarantee that the stock of Trump Media will continue to trade at its current levels. If the share price falls over the coming months, the sizable increase to his net worth could be smaller over time. Digital World’s shares dropped about 14 percent after the shareholder vote approving the merger.

As part of the merger, investors in Digital World — the cash-rich shell company that voted to merge with Trump Media — will now become shareholders of Mr. Trump’s three-year-old company. The deal will transfer more than $300 million from Digital World’s coffers to Trump Media, a struggling business with little revenue, and allow Truth Social to keep operating.

 

Shares of Trump Media could begin trading on the stock market as early as Monday under the stock symbol DJT.

Many of Digital World’s 400,000 shareholders are ordinary investors and fans of Mr. Trump, whose enthusiasm about the former president has propped up the shares for years. But it remains to be seen whether they will hold on to the stock now that the merger is done.

In a statement before the vote, Trump Media said that “the merger will enable Truth Social to enhance and expand our platform.”

With the future of his real estate business in flux because of the ruling in the New York civil fraud case, Trump Media could become one of Mr. Trump’s main moneymakers — and a potential source of conflict should he win the presidency in November. Trump Media currently gets most of its revenue from Truth Social, its flagship platform where several upstart companies advertise their products, targeting Mr. Trump’s supporters and using slogans that are variations on America First or Make America Great Again.

In using the stock symbol DJT, Trump Media is taking a trip back in time. One of Mr. Trump’s former publicly traded companies, Trump Hotels and Casino Resorts, had traded under that stock symbol until it filed for bankruptcy in 2004.

 

The merger of Digital World and Trump Media, first proposed in October 2021, is one of the more prominent deals to emerge from a strategy that many companies used to go public that was all the rage during the pandemic. Special purpose acquisition companies like Digital World are speculative investment vehicles set up for the purpose of raising money in an initial public offering and then finding an operating business to buy.

In going public through a SPAC merger, Trump Media is following other so-called alt-right businesses like Rumble, an online video streaming service that caters to right-leaning media personalities, and PublicSquare, which bills itself as an online marketplace for the “patriotic parallel economy.”

Trump Media took in just $3.3 million in advertising revenue on Truth Social during the first nine months of last year, and the company, during that period, incurred a net loss of $49 million.

“It’s unclear to me what is the strategy to building out the platform especially so it may reach a broader advertiser,” said Shannon McGregor, a professor of journalism and media at the University of North Carolina. “There does seem to be a ceiling in these niche markets.”

The merger was almost derailed by a Securities and Exchange Commission investigation into deal talks between the two companies that took place before Digital World’s initial public offering. Securities rules prohibit SPACs from engaging in meaningful merger talks before going public.

 

But the deal got back on track after Digital World settled with the S.E.C. in July, agreeing to pay an $18 million penalty after the merger was completed and to revise its corporate filings.

After the deal was done on Friday, many shareholders and Trump fans celebrated online. Chad Nedohin, a vocal proponent of the merger on Truth Social, posted a livestream of the shareholder meeting on Rumble. In a chat room, viewers shared their enthusiasm for the deal, with messages such as “Great day to be alive” and “The day is finally here.”

Relevant part:

Quote

So far, those gains are on paper, and Mr. Trump is unlikely to be able to quickly turn it into cash because of restrictions in the merger agreement that prevent major shareholders from selling shares for at least six months, or using them as collateral for loans. But because Mr. Trump controls so much of Trump Media, and because his allies are expected to make up a majority of the new board, they could waive those restrictions on his request.

The question of where Mr. Trump can raise cash has become an urgent one because he is on the hook for hundreds of millions of dollars of legal bills tied to the multiple cases against him. Mr. Trump is facing a Monday deadline to cover a $454 million penalty in a civil fraud case brought by the New York State attorney general, which accuses him of greatly inflating the value of his real estate holdings in deals with banks.

 

If Mr. Trump cannot come up with the cash or a bond to cover the penalty while he appeals the ruling, the attorney general’s office could seize some of his properties.

Trump Media’s board might be reluctant to allow Mr. Trump to sell shares early as that would likely deflate the company’s share price. But lifting the restriction on using shares as collateral would help him secure a bond and minimize the negative impact on the stock price.

 

[Surly Bevo 24908]

Stratton Oakmont leading this IPO?

[tbone_ 14115]

. . . with oversight from the SEC, which is an odd twist.  Hiding in plain sight?

SEC not there to protect people from making stupid investments.

I really don’t think there is anything nefarious going on. Simply that dotard and probably some money types said hey the market will pay us a stupid amount of money for a social media platform that is essentially just trumps inane tweets.

Stupid is as stupid does so here we are.

[The Dog 44020]

3 minutes ago, tbone_ said:

SEC not there to protect people from making stupid investments.

I really don’t think there is anything nefarious going on. Simply that dotard and probably some money types said hey the market will pay us a stupid amount of money for a social media platform that is essentially just trumps inane tweets.

Stupid is as stupid does so here we are.

And they can take advantage of an army of marks who can’t quit Trump.

Easy money.

[Neonmoon 38129]

Easier for outside sources to pour money into DWAC stock to funnel to Trump’s media company. It’s money laundering in plain sight. Media company doesn’t do shit for business. People get pouring money in. You don’t have to be a citizen to buy stock. There are no restrictions. 

[BevoAbyss 2058]

44 minutes ago, tbone_ said:

SEC not there to protect people from making stupid investments.

Of course, the SEC is not there to protect democracy from corporate networks anchored in fascist-theocratic propaganda and election conspiracy theory -- owned by a wannabe dictator. Nope. Not the SEC function.

Same with Corporate America ...

Same with the mainstream media ...

Same with American universities ...

Same with the Supreme Court ...

Same with Merrick Garland's DOJ ... 

Seems it is no institution's job to take on fascism and theocracy.  

But, there is all that American "freedom" and "free markets."

Till they're suddenly gone.

Edited March 22 by BevoAbyss

[jimmyjazz 45898]

1 hour ago, Keef said:

I know nothing about Truth Social, the SPAC entity, or the investors, but pretty much every company that goes public has a 6 month "market standoff" or "lock-up", where employees and shareholders agree not to sell any shares on the public market for 6 months.  

Most, but not all.  I have only been involved in one IPO, but the CEO was able to sell millions of shares the day we went public.  The rest of us weren't.

[dcbc 14471]

1 hour ago, BamaATL said:

The total number of registered Truther's or whatever the fuck they are, is right around 10 million

I read just over 8 million earlier.  Trump has 4 million plus truth followers.  By comparison, he has over 80 million follows on Twi'x.  To quote Gordon Gekko, it's a dog with fleas.

Edited March 22 by dcbc

[Rimbo 25919]

46 minutes ago, BevoAbyss said:

Of course, the SEC is not there to protect democracy from corporate networks anchored in fascist-theocratic propaganda and election conspiracy theory -- owned by a wannabe dictator. Nope. Not the SEC function.

Hell, the SEC can't even protect their first-round teams! WTF, Florida...

[dcbc 14471]

1 minute ago, Rimbo said:

Hell, the SEC can't even protect their first-round teams! WTF, Florida...

[atomheartbevo 89648]

3 hours ago, Keef said:

I know nothing about Truth Social, the SPAC entity, or the investors,

It’s a thing of beauty, complete with ties to China, and specifically, Wuhan.

Quote

On September 3, 2021, DWAC commenced trading on the Nasdaq, after selling 25 million shares in its IPO.^[2]

On October 20, 2021, DWAC and Trump Media & Technology Group (TMTG) announced that they had entered into a definitive merger agreement that would combine the two entities, allowing TMTG to become a publicly traded company. DWAC was created with the help of ARC Capital, a Shanghai-based firm specializing in listing Chinese companies on American stock markets that has been a target of U.S. Securities and Exchange Commission (SEC) investigations for misrepresenting shell corporations.^[3][4][5] Some investors were surprised to learn that their investment money was being used to finance a Trump company.^[6] In 2021, the DWAC Trump venture was linked with another company, China Yunhong Holdings, based in Wuhan, Hubei,^[7][8] until its lead banker who was running the merger promised to sever ties with China in December 2021, stating that Yunhong was to "dissolve and liquidate".^[9][10] In February 2022, Reuters reported that the connection between Shanghai-based ARC Capital and Digital World was more extensive than thought, with ARC having offered money to get the SPAC off the ground.^[10]

In August 2022, DWAC secured shareholder approval for four three-month extensions to close the deal, deferring shareholder meetings until September 8, 2023. The firm needs to close the deal by that date, or have 65% of shareholders approve another extension, or face liquidation.^[11] Shareholders approved a one-year extension on September 5.^[12]

In March 2023, Digital World Acquisition fired its CEO Patrick Orlando.^[13]

DWAC disclosed in an October 2023 regulatory filing that after investors had canceled $467 million of their commitments, the firm would return the remaining $533 million of the $1 billion it had raised.^[14][15][16]

On March 22, 2024, DWAC shareholders approved a deal to merge with TMTG.^[1]

 

[Mdhorn 5948]

4 hours ago, atomheartbevo said:

It’s a thing of beauty, complete with ties to China, and specifically, Wuhan.

 

So he runs the RNC like a mob boss--the Republican Party is basically the Republican crime family, that sends a cut to Dotard every time money comes in. And now on top of this, he's about to defraud his social media share holders, may have judges and congressmen in his pocket, is a convicted rapist and has a multitude of trials going on damn near simultaneously, got busted paying off a porn star (and others), has tax payers paying his security team for life, and is running again for president.  DOJ, SCOTUS, anybody going to step up?  And for anybody questioning whether he has judges in his pocket, he's arguing immunity for life because he was a president--and not just for past offenses, but so that he can continue breaking laws.  Like right now, with his Truth Social scandal about to break.  

The problem with Gotti was that he didn't think big enough, unlike Putin, who is president for life.  I wish the China thing mattered, I just can't see it with his followers. Their real anger is that we all don't follow them over the cliff.  

But Biden is soft on the border, so both sides.  

 

Edited March 23 by Mdhorn

[Guest]

https://finance.yahoo.com/news/trump-poised-land-3-5bn-145441121.html

On Friday, shareholders in Digital World Acquisition Corp, a listed cash shell, voted to approve a merger with Trump Media & Technology Group (TMTG), the company behind Mr Trump’s social network Truth Social.

It means TMTG will join the Nasdaq exchange as early as next week. Mr Trump will own a majority of the combined company with a stake worth around $3.5bn.

TMTG lost $49m in the first nine months of 2023, while revenue rose from $237,000 in the first nine months of 2022 to $3.4m.

I'm sorry, how does a stake in a company that lost $49 million and only took in $3.4 million equate to $3.5 billion? 

[Neonmoon 38129]

22 minutes ago, FirstTimeCaller said:

https://finance.yahoo.com/news/trump-poised-land-3-5bn-145441121.html

On Friday, shareholders in Digital World Acquisition Corp, a listed cash shell, voted to approve a merger with Trump Media & Technology Group (TMTG), the company behind Mr Trump’s social network Truth Social.

It means TMTG will join the Nasdaq exchange as early as next week. Mr Trump will own a majority of the combined company with a stake worth around $3.5bn.

TMTG lost $49m in the first nine months of 2023, while revenue rose from $237,000 in the first nine months of 2022 to $3.4m.

I'm sorry, how does a stake in a company that lost $49 million and only took in $3.4 million equate to $3.5 billion? 

It’s pure influence peddling 

 

Jeffrey Yass is a huge TikTok investor which is why Trump probably flip flopped on banning it. 

[Captainant 27653]

38 minutes ago, FirstTimeCaller said:

I'm sorry, how does a stake in a company that lost $49 million and only took in $3.4 million equate to $3.5 billion? 

Our """free market""" doesn't believe in punishing failure if you're charismatic and powerful enough. 

[HenryJames 66041]

Have to admit it’s pretty cool that a presidential candidate is running a pump and dump scheme to defraud his supporters during the campaign.

[HenryJames 66041]

https://www.sec.gov/Archives/edgar/data/1849635/000119312521348593/d242442dex992.htm
 

Also this is absolutely regarded.

[HenryJames 66041]

[Js1 85310]

1 hour ago, Neonmoon said:

It’s pure influence peddling 

 

Jeffrey Yass is a huge TikTok investor which is why Trump probably flip flopped on banning it. 

And the guy he floated for Treasury Secretary 

[TwiceHorn 31449]

2 hours ago, FirstTimeCaller said:

https://finance.yahoo.com/news/trump-poised-land-3-5bn-145441121.html

On Friday, shareholders in Digital World Acquisition Corp, a listed cash shell, voted to approve a merger with Trump Media & Technology Group (TMTG), the company behind Mr Trump’s social network Truth Social.

It means TMTG will join the Nasdaq exchange as early as next week. Mr Trump will own a majority of the combined company with a stake worth around $3.5bn.

TMTG lost $49m in the first nine months of 2023, while revenue rose from $237,000 in the first nine months of 2022 to $3.4m.

I'm sorry, how does a stake in a company that lost $49 million and only took in $3.4 million equate to $3.5 billion? 

Well, if serious, this DWAC thing has a share value, based on pure speculation, that is mostly independent of TMTG except to the extent the speculation is based on acquiring TMTG. So like all speculation is stupid af. 

Then DWAC acquires TMTG and its share price becomes TMTGs share price along with it its shares. 

Then the reality of a shit acquisition target hits and the share price goes into the toilet. Meanwhile, the shares should be locked up from insider trading for six months while they assume what should be a realistic value,ie dogshit. 

[Superhero 8828]

3 hours ago, The Dog said:

this is a 'pump and dump' scheme.

1. get suckers to inflate the price

2. dump the shit and wipe out the suckers

How many institutional investors do you think (or know) this and will buy these shares? Hopefully they are competent and stay away, but from what I’ve read, it seems like institutional investors are ready to jump in.

Regardless of whether they are institutional or retail investors, in the end as long as it’s the MAGAt that get hurt, I don’t give a shit. 
 

3 hours ago, Rimbo said:

ah but it would be collateral he could use, right?

It’s collateral, but he’s gonna lose it all anyway. 

[TwiceHorn 31449]

3 minutes ago, Superhero said:

How many institutional investors do you think (or know) this and will buy these shares? Hopefully they are competent and stay away, but from what I’ve read, it seems like institutional investors are ready to jump in.

Regardless of whether they are institutional or retail investors, in the end as long as it’s the MAGAt that get hurt, I don’t give a shit. 
 

It’s collateral, but he’s gonna lose it all anyway. 

Stock makes shitty collateral, see, eg, margin loans. Stock itself is not going to help Trump very much as its collateral value is less than half its current trade value if that. 

[Keef 764]

16 hours ago, dcbc said:

But doesn't the SPAC buy his shares and then take the company public itself.  I saw the six month hold mentioned above, but I thought he cashed out when the SPAC acquired T/S.  

 

I'm like a different Donny here, out of my element.

Not exactly.  Think of a SPAC entity as just a holding company with nothing in it (there's some cash, but we'll ignore that for purposes of keeping it simple).  The SPAC is publicly listed, which is an easy process since it has nothing in it.  The SPAC entity searches for a private company to "merge" with, but its generally just an exchange of shares of the private company for shares of the publicly traded SPAC entity at an agreed upon valuation.  The private company likes this because its a much easier way to go public instead of the traditional IPO process, but there's is an exchange of cash during the merger.  Just shares of a public traded company.  Those shares are typically subject to the 6 month lock-up.

[Keef 764]

15 hours ago, jimmyjazz said:

Most, but not all.  I have only been involved in one IPO, but the CEO was able to sell millions of shares the day we went public.  The rest of us weren't.

Yeah there are special deals cut all the time.  You need the underwriters and the board to agree to it though.

[Keef 764]

16 hours ago, Sawbonz said:

Are there any disclosure rules for entities or individuals purchasing more than a certain dollar amount of stock?

 

Also, what if you hold an IPO and no one shows up? In other words presumably they have a target price per share. If bids aren’t close to that amount, is there a minimum below which they can refuse to sell the stock, or do they have to put a set amount of the stock out there and take whatever the market will pay?

On your first question, yes.  On your second question, there's usually a whole road show of publicity before you IPO.  So the investment bankers that you engage have a good idea of who will buy what.  But if no one buys or no one buys in the amount and at the price that you think they will, the share price craters.

[locodos 5387]

14 hours ago, Rimbo said:

Hell, the SEC can't even protect their first-round teams! WTF, Florida...

You do know they lost their starting Center in the SECSEC tournament...  They were never going anywhere after that.

 

Handlogten, a 7-foot-1 sophomore, had two rebounds in two minutes and was trying to come down with a third when he landed awkwardly on his left foot with 17:46 remaining in the first half. He immediately went down in pain and rolled onto his side, putting his hands to his face.

The sound of bone apparently breaking could be heard on TV with blood immediately visible on the back of his calf.

Edited March 23 by locodos