(The Epoch Times)—Trump Media & Technology Group, which owns Truth Social, will begin trading on the Nasdaq stock market on March 26, the company said in a regulatory filing on March 25.
Shareholders of Digital World Acquisition Corp., a publicly traded shell company, approved a deal to merge with the President Donald Trump’s media business in a vote this past week.
The common stock of Trump Media & Technology Group, which is led by former Republican Rep. Devin Nunes, will trade under the ticker symbol “DJT,” or the former president’s initials, according to a news release.
The new ticker symbol is the same one that was used by the former president’s resorts and casino firm, which used to trade on the New York Stock Exchange in the mid-1990s and early 2000s.
Shares of Digital World Acquisition Corp., or DWAC, rose by 23 percent on March 25 in the afternoon following the Nasdaq announcement. So far in 2024, shares of DWAC have increased by more than 130 percent, while revenue was $3.4 million for the first three quarters of last year, said a DWAC regulatory filing.
“As a public company, we will passionately pursue our vision to build a movement to reclaim the Internet from Big Tech censors,” said Mr. Nunes in the release. “We will continue to fulfill our commitment to Americans to serve as a safe harbor for free expression and to stand up to the ever-growing army of speech suppressors.”
President Trump is set to own most of the combined company—or nearly 79 million shares. Multiply that by Digital World’s closing stock price Friday of $36.94, and the total value of his stake could be nearly $3 billion.
“Today marks a pivotal moment not only for DWAC and TMTG as a combined entity, but for the broader media and technology landscape,” Eric Swider, director of TMTG, said in a news release, adding that it is an “extraordinary opportunity to shape the future of media and technology.”
On March 22, shareholders of Digital World voted to approve a merger with TMTG, where President Trump is the chairman, according to a filing with the U.S. Securities and Exchange Commission.
Digital World is what’s called a special purpose acquisition company, or SPAC, also known as a “blank-check company.” SPACs raise cash and then hunt for companies to merge with. Such deals give the target companies a potentially quicker and easier way to get their stocks onto the New York Stock Exchange or Nasdaq.
The arrangement lets them avoid some of the paperwork associated with traditional initial public offerings of stock, or IPOs. For investors, SPACs offer a way to get into hyped, potentially faster-growing companies such as TMTG, the DraftKings betting service, or SoFi banking.
It comes as the former president faces a massive, $455 million civil judgment after a New York judge ruled this month that he and his real-estate company defrauded banks and insurance companies for at least a decade.
President Trump has denied the allegations, saying the judge is engaging in a partisan witch hunt designed to harm his 2024 chances.
Bond Amount Cut
On March 25, a New York court cut the bond amount to $175 million that the former president needs to post in order to appeal the fraud verdict. The court also set a new deadline, giving him more than a week to pay.
The office of the New York attorney general, who brought the fraud case, responded to the ruling by saying that the former president is “still facing accountability for his staggering fraud.”
“The court has already found that he engaged in years of fraud to falsely inflate his net worth and unjustly enrich himself, his family, and his organization,” the statement said. “The $464 million judgment—plus interest—against Donald Trump and the other defendants still stands.”
President Trump’s two eldest sons Donald Jr. and Eric, and two company executives from the Trump Organization, Allen Weisselberg and Jeff McConney, also face penalties in the judgment. And this past week, New York Attorney General Letitia James’ office filed the judgments in Westchester County, New York, suggesting that she might take action to seize the former president’s assets in the county.
There has been speculation that the former president could use some of the Truth Social acquisition cash to help pay off his legal expenses, which includes attorney fees amid four criminal cases. The former president also has to pay a judgment in a defamation case that was brought against him by writer E. Jean Carroll.
But under the agreement, he cannot sell his shares in the company easily for at least six months. Major TMTG shareholders will be under what’s called a “lock-up” provision, a common restriction on Wall Street that keeps big, early investors from immediately dumping their shares. Such sales could tank the stock’s price.
The Associated Press contributed to this report.
Five Things New “Preppers” Forget When Getting Ready for Bad Times Ahead
The preparedness community is growing faster than it has in decades. Even during peak times such as Y2K, the economic downturn of 2008, and Covid, the vast majority of Americans made sure they had plenty of toilet paper but didn’t really stockpile anything else.
Things have changed. There’s a growing anxiety in this presidential election year that has prompted more Americans to get prepared for crazy events in the future. Some of it is being driven by fearmongers, but there are valid concerns with the economy, food supply, pharmaceuticals, the energy grid, and mass rioting that have pushed average Americans into “prepper” mode.
There are degrees of preparedness. One does not have to be a full-blown “doomsday prepper” living off-grid in a secure Montana bunker in order to be ahead of the curve. In many ways, preparedness isn’t about being able to perfectly handle every conceivable situation. It’s about being less dependent on government for as long as possible. Those who have proper “preps” will not be waiting for FEMA to distribute emergency supplies to the desperate masses.
Below are five things people new to preparedness (and sometimes even those with experience) often forget as they get ready. All five are common sense notions that do not rely on doomsday in order to be useful. It may be nice to own a tank during the apocalypse but there’s not much you can do with it until things get really crazy. The recommendations below can have places in the lives of average Americans whether doomsday comes or not.
Note: The information provided by this publication or any related communications is for informational purposes only and should not be considered as financial advice. We do not provide personalized investment, financial, or legal advice.
Secured Wealth
Whether in the bank or held in a retirement account, most Americans feel that their life’s savings is relatively secure. At least they did until the last couple of years when de-banking, geopolitical turmoil, and the threat of Central Bank Digital Currencies reared their ugly heads.
It behooves Americans to diversify their holdings. If there’s a triggering event or series of events that cripple the financial systems or devalue the U.S. Dollar, wealth can evaporate quickly. To hedge against potential turmoil, many Americans are looking in two directions: Crypto and physical precious metals.
There are huge advantages to cryptocurrencies, but there are also inherent risks because “virtual” money can become challenging to spend. Add in the push by central banks and governments to regulate or even replace cryptocurrencies with their own versions they control and the risks amplify. There’s nothing wrong with cryptocurrencies today but things can change rapidly.
As for physical precious metals, many Americans pay cash to keep plenty on hand in their safe. Rolling over or transferring retirement accounts into self-directed IRAs is also a popular option, but there are caveats. It can often take weeks or even months to get the gold and silver shipped if the owner chooses to close their account. This is why Genesis Gold Group stands out. Their relationship with the depositories allows for rapid closure and shipping, often in less than 10 days from the time the account holder makes their move. This can come in handy if things appear to be heading south.
Lots of Potable Water
One of the biggest shocks that hit new preppers is understanding how much potable water they need in order to survive. Experts claim one gallon of water per person per day is necessary. Even the most conservative estimates put it at over half-a-gallon. That means that for a family of four, they’ll need around 120 gallons of water to survive for a month if the taps turn off and the stores empty out.
Being near a fresh water source, whether it’s a river, lake, or well, is a best practice among experienced preppers. It’s necessary to have a water filter as well, even if the taps are still working. Many refuse to drink tap water even when there is no emergency. Berkey was our previous favorite but they’re under attack from regulators so the Alexapure systems are solid replacements.
For those in the city or away from fresh water sources, storage is the best option. This can be challenging because proper water storage containers take up a lot of room and are difficult to move if the need arises. For “bug in” situations, having a larger container that stores hundreds or even thousands of gallons is better than stacking 1-5 gallon containers. Unfortunately, they won’t be easily transportable and they can cost a lot to install.
Water is critical. If chaos erupts and water infrastructure is compromised, having a large backup supply can be lifesaving.
Pharmaceuticals and Medical Supplies
There are multiple threats specific to the medical supply chain. With Chinese and Indian imports accounting for over 90% of pharmaceutical ingredients in the United States, deteriorating relations could make it impossible to get the medicines and antibiotics many of us need.
Stocking up many prescription medications can be hard. Doctors generally do not like to prescribe large batches of drugs even if they are shelf-stable for extended periods of time. It is a best practice to ask your doctor if they can prescribe a larger amount. Today, some are sympathetic to concerns about pharmacies running out or becoming inaccessible. Tell them your concerns. It’s worth a shot. The worst they can do is say no.
If your doctor is unwilling to help you stock up on medicines, then Jase Medical is a good alternative. Through telehealth, they can prescribe daily meds or antibiotics that are shipped to your door. As proponents of medical freedom, they empathize with those who want to have enough medical supplies on hand in case things go wrong.
Energy Sources
The vast majority of Americans are locked into the grid. This has proven to be a massive liability when the grid goes down. Unfortunately, there are no inexpensive remedies.
Those living off-grid had to either spend a lot of money or effort (or both) to get their alternative energy sources like solar set up. For those who do not want to go so far, it’s still a best practice to have backup power sources. Diesel generators and portable solar panels are the two most popular, and while they’re not inexpensive they are not out of reach of most Americans who are concerned about being without power for extended periods of time.
Natural gas is another necessity for many, but that’s far more challenging to replace. Having alternatives for heating and cooking that can be powered if gas and electric grids go down is important. Have a backup for items that require power such as manual can openers. If you’re stuck eating canned foods for a while and all you have is an electric opener, you’ll have problems.
Don’t Forget the Protein
When most think about “prepping,” they think about their food supply. More Americans are turning to gardening and homesteading as ways to produce their own food. Others are working with local farmers and ranchers to purchase directly from the sources. This is a good idea whether doomsday comes or not, but it’s particularly important if the food supply chain is broken.
Most grocery stores have about one to two weeks worth of food, as do most American households. Grocers rely heavily on truckers to receive their ongoing shipments. In a crisis, the current process can fail. It behooves Americans for multiple reasons to localize their food purchases as much as possible.
Long-term storage is another popular option. Canned foods, MREs, and freeze dried meals are selling out quickly even as prices rise. But one component that is conspicuously absent in shelf-stable food is high-quality protein. Most survival food companies offer low quality “protein buckets” or cans of meat, but they are often barely edible.
Prepper All-Naturals offers premium cuts of steak that have been cooked sous vide and freeze dried to give them a 25-year shelf life. They offer Ribeye, NY Strip, and Tenderloin among others.
Having buckets of beans and rice is a good start, but keeping a solid supply of high-quality protein isn’t just healthier. It can help a family maintain normalcy through crises.
Prepare Without Fear
With all the challenges we face as Americans today, it can be emotionally draining. Citizens are scared and there’s nothing irrational about their concerns. Being prepared and making lifestyle changes to secure necessities can go a long way toward overcoming the fears that plague us. We should hope and pray for the best but prepare for the worst. And if the worst does come, then knowing we did what we could to be ready for it will help us face those challenges with confidence.
