On Friday, Trump Media & Technology Group Corp (DJT) announced a deal to acquire critical assets for its planned content distribution network. The stock showed volatility during premarket trading as investors weighed the news of the acquisition and the issuance of 5.1 million shares and $17.5 million in financing over three years. Additionally, Trump Media has secured a standby equity purchase agreement with YA II PN, Ltd., managed by Yorkville Advisors, which will allow it to issue up to $2.5 billion in shares over three years.
The new network will stream via the Truth Social platform and standalone apps in the future. Trump Media anticipates obtaining non-exclusive, perpetual licensing rights from Perception Group, Inc., for CDN technology. Perception Group will also face five-year restrictions in the U.S. market to prevent competition with Trump Media, with a potential future purchase option for Trump Media to buy Perception outright. The streaming service will offer news shows, religious channels, and family-friendly content that faces cancellation risks.
Former President Donald Trump has challenged President Joe Biden to a debate without moderators and fewer rules to test Biden’s competence. Trump criticized the structured format of their previous debate hosted by CNN and believes this new format will provide Biden a platform to explain his policies. The debate would aim to test Biden’s competence under pressure following their first debate on June 27, which key Democratic figures and editorial boards have called for Biden to withdraw from seeking reelection due to his poor performance.
DJT shares were trading lower by 0.64% to $30.90 premarket at the last check on Friday amidst excitement about the upcoming presidential race between Trump and Biden later this year.
It is worth noting that this content was partially generated with AI tools and was reviewed and published by Benzinga editors for accuracy and clarity purposes only.
In summary:
Trump Media & Technology Group Corp (DJT) announced a deal on Thursday to acquire critical assets for its planned content distribution network.
The company expects to finance the acquisition through issuing 5.1 million shares and $17.5 million over three years.
Additionally, DJT has secured a standby equity purchase agreement (SEPA) with YA II PN, Ltd., managed by Yorkville Advisors that allows it to issue up to $2.5 billion in shares over three years.
The new network will stream via Truth Social platform and standalone apps in future.
Trump Media anticipates obtaining non-exclusive, perpetual licensing rights from Perception Group Inc., for CDN technology.
Former President Donald Trump has challenged President Joe Biden
