Company: DJTWW
Filing Date: 2025-02-14
Form Type: 10-K
Source: 0001140361-25-004822
Chunk: 103

Company: Trump Media & Technology Group Corp.
Filing Date: 2025-02-14
Form: 10-K
Item: Item 1
Chunk 103
---
 shares of Common Stock, and (b) 1,000,000 shares of “blank check” preferred stock. There are currently approximately 747,313,011 authorized but unissued shares of TMTG common stock available for issuance, which
              amount does not take into account shares reserved for issuance upon exercise of outstanding TMTG warrants and TMTG options. There are currently no shares of preferred stock issued and outstanding. TMTG may issue additional shares of common or
              preferred stock under the Equity Incentive Plan, in connection with the exercise of warrants or as needed for working capital or other purposes. The issuance of additional shares of common or preferred stock:

              56

    •

                      may significantly dilute the equity interest of existing investors;

    •

                      may subordinate the rights of holders of common stock if preferred stock is issued with rights senior to those afforded TMTG’s Common Stock;

    •

                      could cause a change in control if a substantial number of shares of common stock are issued, which, among other things, could result in the resignation or removal of
                        TMTG’s present Management Team; and

    •

                      may adversely affect prevailing market prices for Common Stock and Public Warrants.

            Warrants may continue to be exercised for TMTG common stock, which would increase the number of shares eligible for
              future resale in the public market and result in dilution to TMTG’s stockholders.

            DWAC issued 14,375,000 Public Warrants as part of its IPO and, on the IPO closing date, DWAC issued 566,742 Placement Warrants to ARC. In
              addition, DWAC issued 6,549,509 Post-IPO Warrants. The TMTG common stock issuable upon the exercise of TMTG’s warrants will result in dilution to the then existing TMTG stockholders and increase the number of shares eligible for resale in the
              public market. Sales of substantial numbers of such shares in the public market could adversely affect the market price of TMTG common stock and Public Warrants. Each such Public Warrant is exercisable to purchase one share of TMTG common
              stock at an exercise price of $11.50 per share.

              As of December 31, 2024, 10,445,682 TMTG warrants had been exercised, resulting in approximately $119.8 million in
                proceeds for TMTG; 11,045,