Trump Media, the company responsible for developing the highly controversial Truth Social app that operates as DJT on the Nasdaq, has taken a nosedive. Last week alone, the company’s stock plummeted by nearly 20%. Today, Trump Media revealed its intention to issue more than 21.4 million shares of common stock, contingent upon the exercise of warrants. This move was disclosed in a “preliminary prospectus” recently filed with the Securities and Exchange Commission. However, the shares cannot be officially issued until the SEC approves the registration statement.

The filing further elucidates that the stock warrants for Trump Media closed at $13.69 as of Friday. These warrants are currently being traded on the Nasdaq under the ticker “DJTWW” and suffered a decrease of over 8% before the market opened today.

To facilitate liquidity, Trump Media is also pursuing the resale of up to 146.1 million shares of stock, with a majority of 114.8 million held by Trump himself. Additionally, if the stock is sustained above a designated price for a sufficient number of trading days, Trump stands to acquire an additional 36 million “earnout shares,” augmenting his current ownership of 78.8 million shares.

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