Trump Media, the parent company of United States President Donald Trump’s social media app Truth Social, has filed to allow its shareholders to sell around 142 million million shares.
The company said in a Securities and Exchange Commission filing that it would permit up to 8.4 million shares to be sold in a primary offering, and that its major stakeholders could sell up to 134 million additional shares. These shares are worth around US$2.3 billion in total.
Trump Media denied any plans to sell its stock. “Legacy media outlets are spreading a fake story suggesting that a TMTG [Trump Media] filing today is paving the way for the Trump trust to sell its shares in TMTG. To be clear, these shares were already registered last June on an S-1 form, and today TMTG submitted a routine filing that re-registers them on an S-3 form in order to keep the Company’s filings effective.
“In fact, there currently is no open window for any affiliate to sell shares.”
While these shares have been registered for a potential sale, the company said no sale is yet guaranteed.
The additional shares registered for sale will include the 114.75 million shares held by the Donald J. Trump Revocable Trust, a fund organised to hold Trump’s stake in the company that is now managed by Donald Trump Jr.
Trump said in November that he would not sell his shares in Trump Media after winning the presidency.
The company has posted three consecutive quarterly losses since its initial public offering in March 2024.
Trump Media’s (NASDAQ: DJT) shares closed down 7.4% after reports of the potential sale. Its share price fell again to US$18.41, down from its previous close at $18.76. Trump Media’s market capitalisation is $4.06 billion.
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