Some Wall Street investors are reluctant to associate with Trump. He was banned from top social media platforms after the Jan. 6 attack by his supporters on the U.S. Capitol amid concerns he would inspire further violence.
- Donald Trump's new social media venture said on Saturday it had entered into agreements to raise about $1 billion from a group of unidentified investors as it prepares to float in the U.S. stock market.
The $1 billion will be raised through a private investment in public equity transaction from "a diverse group of institutional investors," Trump Media and Digital World said in a statement. They did not respond to requests to name the investors. The Capitol attack was based on unsubstantiated claims of widespread fraud in last year's presidential election."As our balance sheet expands, Trump Media & Technology Group will be in a stronger position to fight back against the tyranny of Big Tech," Trump said in a statement on Saturday.
If that price averages below $56 in the 10 days after the merger with Digital World has been completed, the discount will grow to 40% with a floor of $10, the companies added. Digital World shares ended trading on Friday $44.97.
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