The social media company Truth Social (NASDAQ:DJT) has announced an all-stock deal to acquire the majority of WorldConnect Technologies’ (WCT) assets. This move is part of a three-step plan to introduce live TV to Truth Social, which will begin with its platform before extending to other platforms.
The acquisition includes agreements with WCT, Perception Group, Perception TVCDN, and FORA, granting Trump Media global rights to utilize new CDN technology. The deal also offers the option to fully purchase Perception in the future. Valued at up to 5.1 million shares of DJT’s stock and $17.5 million over three years, the deal will be finalized once Perception’s software is fully operational.
Trump Media has also secured a deal with Yorkville Advisors to issue up to $2.5 billion in shares over three years at a 2.75% discount to the market price to support its growth. This move may result in further dilution for investors.
Investors can expect no analyst coverage for DJT stock as there are currently no analysts covering it. However, monitoring the last three months of trading reveals a decline in shares since May due to controversies surrounding former President Trump, DJT’s largest shareholder. Consequently, DJT shares have decreased by 23.38% during this period.
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