Donald Trump is returning to the stock market.
Shareholders of Digital World Acquisition Corp, a publicly traded shell company, approved a deal to merge with the former president’s media business in a Friday vote.
That means Trump Media & Technology Group, whose flagship product is social networking site Truth Social, will soon begin trading on the Nasdaq stock market.
Trump could receive a sizeable payout in the process.
He would own most of the combined company — or nearly 79 million shares. Multiply that by Digital World’s closing stock price Thursday of $42.81, and the total value of Trump’s stake could surpass $3bn. The shares did fall 5% after the merger approval was announced.
The deal’s greenlight arrives at a time the presumptive Republican presidential nominee is facing his most costly legal battle to date: a $454m judgment in a fraud lawsuit.
This post was originally published on this site be sure to check out more of their content
