Trump Media & Technology Group Corp (DJT) announced a deal on Thursday to acquire critical assets for its planned content distribution network, causing its stock to show volatility during premarket trading on Friday. The deal will be financed by issuing 5.1 million shares and $17.5 million over three years. Additionally, Trump Media has secured a standby equity purchase agreement (SEPA) with YA II PN, Ltd., managed by Yorkville Advisors, to support its growth strategy. This agreement will allow Trump Media to issue up to $2.5 billion in shares over three years.
Former President Donald Trump, the majority stockholder of Trump Media, has challenged President Joe Biden to a debate with no moderators and fewer rules to test Biden’s competence. Trump believes this new format will provide Biden a platform to explain his policies under pressure. Following their first debate on June 27, key Democratic figures and editorial boards have called for Biden to withdraw from seeking reelection.
The new network will stream via the Truth Social platform and standalone apps in the future, offering news shows, religious channels, and family-friendly content that faces cancellation risks. 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.
DJT shares were trading lower by 0.64% to $30.90 premarket at the last check on Friday despite being partially generated with AI tools and reviewed and published by Benzinga editors.
In conclusion, Trump Media & Technology Group Corp (DJT) is set to launch its content distribution network through a deal that includes issuing shares and securing an equity purchase agreement with YA II PN, Ltd., managed by Yorkville Advisors
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