Trump Media and Technology Group, the parent company of the Truth Social platform, has seen a significant increase in liquidity, raising $105 million in funds through a recent filing with the SEC. This comes after an initial expectation of $69.4 million, with an additional $41 million becoming unrestricted, bringing the company’s cash balance to $350 million as of July 1st.
With these funds, Trump Media is poised to pursue its growth-focused agenda, including the launch of a new live TV streaming platform and its own content delivery network. The company plans to introduce live streaming to the Truth Social platform on iOS, Android, and web versions in the first phase, followed by a dedicated OTT streaming app for smartphones and tablets, and eventually a version for smart TVs.
In addition to its financial success, Trump Media’s stock will now be included in the Russell 1000 and Russell 3000 indexes, opening up opportunities for passive liquidity and exposure to a wider range of investors. This move is significant, as approximately $9.1 trillion in assets are benchmarked against Russell’s U.S. Indexes.
Overall, Trump Media and Technology Group’s recent financial and market developments position the company for further growth and expansion as it continues to advance its ambitious plans for its media and technology platforms. Investors will be watching closely as the company moves forward with its strategic initiatives.
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