Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT), operator of the social media platform Truth Social, the streaming platform Truth+ and the FinTech brand Truth.Fi, announced today that its board of directors has authorized the repurchase of up to $400 million of the company’s common stock.
The repurchases, comprising either stocks or warrants, would be conducted through open market transactions, with repurchased shares to be retired by the company. The timing and amount of the repurchases would be at Trump Media’s discretion, in compliance with relevant Securities and Exchange Commission rules and regulations.
Trump Media's CEO and Chairman Devin Nunes said, “The board took a vote of confidence in our cCompany, our stock, and our strategic plans. Since Trump Media now has approximately $3 billion on its balance sheet, we have the flexibility to take actions like this which support strong shareholder returns, as we continue exploring further strategic opportunities.”
The Share Repurchase Authorization would be funded separately from, and would not alter, Trump Media’s previously announced Bitcoin treasury strategy, which featured a private placement offering of approximately $2.3 billion in the aggregate.
Additionally, the company may, at any time and from time to time, seek to repurchase its outstanding convertible notes in open-market or privately-negotiated transactions. The company will retain broad discretion over the terms, prices, and factors applicable to such repurchases, if any.
About Trump Media:
The mission of Trump Media is to end Big Tech's assault on free speech by opening up the internet and giving people their voices back. Trump Media operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations, as well as Truth+, a TV streaming platform focusing on family-friendly live TV channels and on-demand content. Trump Media is also launching Truth.Fi, a financial services and FinTech brand incorporating America First investment vehicles.
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