(C) Daily Kos This story was originally published by Daily Kos and is unaltered. . . . . . . . . . . Endgame for $DJT and TMTG? those who can may be cashing out [1] ['This Content Is Not Subject To Review Daily Kos Staff Prior To Publication.'] Date: 2024-09-08 The ship may only be taking on water, but Trump threatening the disloyal and those who would help persecute him is only part of the steady unwinding of the unhinged Mango Mussolini as he tries to keep the cult together. Because ‘skullduggery’. That means the earliest possible date Trump can sell is Sept. 19 if Trump Media shares remain above the $12 threshold, not a guarantee with a $17 share price Friday, and the latest his selling window would open is Sept. 25, the end of the opening six-month period of DJT’s direct public listing. The company’s latest prospectus filing with the Securities and Exchange Commission outlines three factors that would trigger the lock-up period to conclude: The end of the first six months of DJT stock trading as its own entity, Trump Media shares trading above $12 for any 20 of 30 trading sessions beginning Aug. 23, or a transaction, like a merger, in which all shareholders have the opportunity to trade in their Trump Media holdings at the same price. The March debut initiated what’s known as a lock-up period, a standard procedure for newly public companies in which certain shareholders, like those who own 5% or more of shares or who serve in a high-level management role, can’t sell shares until a predetermined date. Trump Media went public March 26 through a reverse merger with a special-purpose acquisition company, concluding a 29-month process of going public marred by headaches like insider trading convictions and accounting errors. Trump owns about 60% of all shares in Trump Media & Technology Group, the parent company of the conservative social media platform Truth Social, which trades on the Nasdaq stock exchange under the ticker $DJT, Trump’s initials. DOVER, Del. (AP) — A federal judge in Delaware has ruled in favor of a firm seeking assurance that it will be able to sell its minority stake in the parent company of former president Donald Trump’s Truth Social platform. The judge on Friday granted summary judgment to Florida-based United Atlantic Ventures LLC in a lawsuit filed against Minnesota-based Odyssey Transfer and Trust Co., a business that handles securities transfers among registered shareholders. UAV is owned by Andrew Litinsky and Wesley Moss, former contestants on Trump’s TV show, “The Apprentice” who also helped facilitate a merger that took Trump Media public in March. Since then, UAV and Trump Media have been battling in courts in both Delaware and Florida over UAV’s stake in the company. Attorneys for Trump Media assured a state judge in Delaware earlier this year that UAV was entitled to an 8.6% stake and would suffer no merger-related dilution. They now contend, however, that UAV is not entitled to its shares because of pre-merger mismanagement by Litinsky and Moss. Friday’s ruling involves UAV’s concerns that it will not receive its Trump Media shares, currently valued at about $350 million, from Odyssey when a post-merger lockup period expires Sept. 19. According to court filings, Odyssey told UAV earlier this year that it would be taking direction from TMTG and its lawyers. apnews.com/... [END] --- [1] Url: https://www.dailykos.com/story/2024/9/8/2268720/-Endgame-for-DJT-and-TMTG-those-who-can-may-be-cashing-out Published and (C) by Daily Kos Content appears here under this condition or license: Site content may be used for any purpose without permission unless otherwise specified. via Magical.Fish Gopher News Feeds: gopher://magical.fish/1/feeds/news/dailykos/