Key Points
Trump Media & Technology Group Corp. sank in late trading after the US Securities and Exchange Commission declared effective a regulatory filing that could dilute shareholders.S)..
The social media company thats mostly owned by former president Donald Trump fell roughly 15% to around $26 in late trading, adding to a 36% slide this month through Tuesdays close..
With our S-1 declared effective, were expecting to be well positioned to energetically pursue TV streaming, other enhancements to the platform, and potential mergers and acquisitions, said Trump Media Chief Executive Officer Devin Nunes..
The warrants could be exercised adding up to $247 million to Trump Medias balance sheet, but also adding millions of shares to the pool of stock available for trading, a Tuesday filing shows..
Also known as sweeteners, theyre a common part of special purpose acquisition company deals and are designed to reward investors, while diluting the value of ordinary shareholders stakes through the issuance of millions of extra shares..
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