Company: DJTWW
Filing Date: 2025-06-05
Form Type: S-3
Source: 0001140361-25-021579
Chunk: 55

Company: Trump Media & Technology Group Corp.
Filing Date: 2025-06-05
Form: S-3
Chunk 55
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.0, with the Loan-to-Collateral Ratio calculated as the aggregate outstanding principal balance of all Convertible Notes divided by the sum of (i) the aggregate market value of bitcoin collateral multiplied by 0.5263157895, plus (ii) the aggregate value of all of the Company’s cash and cash equivalents collateral. Within 45 days after the Closing Date, the Company is required to deliver to the Collateral Agent the collateral bitcoin, cash and cash equivalents. Portions of the collateral will be released upon request of the Company when the outstanding aggregate principal balance of all Convertible Notes is at $500,000,000 or less, and an additional portion will be released upon request of the Company when the outstanding aggregate principal balance of all Convertible Notes is $250,000,000 or less. The market value of bitcoin will be the seven day moving average price of bitcoin, as determined by reference to the CME Bitcoin Reference Rate – New York Variant (BRRNY).

Each Holder may, at its option, convert such Holder’s Convertible Notes into shares of Common Stock at the conversion price of $34.722 per share (a premium of approximately 135% of the most recent closing market price of the Common Stock as of the date of the Debt Financing Subscription Agreements). The Company also retains the right to force conversion if, at any time following the date that is six months after the issue date of the Convertible Notes, the last reported sale price of the Common Stock exceeds 130% of the conversion price for any of 20 consecutive trading days during a 30-day trading period. The conversion rate and conversion price are subject to customary adjustments upon the occurrence of certain events. In addition, if certain corporate events that constitute a “Make-Whole Fundamental Change” (as defined in the Indenture) occur, then the conversion rate will, in certain circumstances, be increased for a specified period of time.

If certain corporate events that constitute a Fundamental Change (as defined in the Indenture) occur, subject to a limited exception for certain cash mergers, each Holder may require the Company to repurchase that Holder’s Convertible Notes on a business day of the Company’s choosing that is no more than 70 nor less than 40 business days (or, in the case of a Fundamental Change resulting from a transaction or a series of related transactions comprising such Fundamental Change where all of the shares of Common Stock are converted into, or are exchanged for, or represent solely the right to receive, cash, no more