Company: DJTWW
Filing Date: 2025-08-01
Form Type: 10-Q
Source: 0001140361-25-028418
Chunk: 285

Company: Trump Media & Technology Group Corp.
Filing Date: 2025-08-01
Form: 10-Q
Item: Part II, Item 8
Chunk 285
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           233,017.5 

            Add: other assets

           - 

            Less: accrued expenses

           (3,292.9 
          
            )

            Less: notes payable

           (10,103.0 
          
            )

            Reverse recapitalization, net

           219,621.6 

    In connection with the Merger, TMTG incurred $1,640.2 in one-time direct and incremental transaction costs, consisting of legal and other professional fees, recorded in general and administration expenses. TMTG also issued $6,130.0 of bonus payments to our employees and a director of Private TMTG that were triggered by the Merger.  We recorded $5,530.0 and $600.0 in general and administration expense and sales and marketing expense, respectively, for the year ended December 31, 2024. TMTG deems these to be non-recurring expenses that are not direct and incremental to the Merger.

    The number of shares of common stock issued immediately following the consummation of the Business Combination were:

            Digital World common stock, outstanding prior to the Business Combination

           39,636,904 

            Shares issued to Digital World convertible noteholders, converted immediately prior to Business Combination

           1,709,145 

            Predecessor TMTG Shares

           87,500,000 

            Shares issued to former TMTG convertible noteholders

           7,854,534 

            Common stock immediately after the Business Combination (1)

           136,700,583 

      (1)  Excludes 1,024,517 additional shares issued to former Digital World Class B shareholders in connection with a court order in September 2024.   

      12

The number of Predecessor TMTG shares was determined as follows:

            Predecessor TMTG
            Shares

            Shares issued
            to shareholders of
            Predecessor TMTG

            Common stock

           100,000,000 

           87,500,000 

           100,000,000 

            $
          
           87,500,000 

    Public and private placement warrants

    In connection with Digital World’s initial public offering in 2021, 14,374,976 public warrants were issued (the “Public Warrants”) and 566,742 warrants were issued in a private placement (the “Private Placement Warrants”; and