Company: DJTWW
Filing Date: 2025-05-09
Form Type: 10-Q
Source: 0001140361-25-018209
Chunk: 19

Company: Trump Media & Technology Group Corp.
Filing Date: 2025-05-09
Form: 10-Q
Item: Part II, Item 8
Chunk 19
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(Amounts in
              thousands, except share and per share data) 

NOTE 1 - DESCRIPTION OF BUSINESS

The accompanying unaudited condensed consolidated financial
                statements include the historical accounts of TMTG Sub Inc. f/k/a Trump Media & Technology Group Corp. (“Private TMTG” or “Predecessor TMTG” or, prior to the closing on March 25, 2024, “TMTG”), which changed

                  its name from Trump Media Group Corp. in October 2021. The mission of TMTG is to end Big Tech’s assault on free speech by opening up the Internet and giving people their voices back. TMTG operates Truth Social, a social media
                platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations, Truth+, a streaming platform focusing on news, Christian content, and family friendly programming, and Truth.Fi, a
                financial services and FinTech brand incorporating America First investment vehicles. 

Merger

On March 25, 2024, TMTG consummated the transactions contemplated by the Agreement and Plan of Merger (collectively, the
              “Business Combination”), dated October 20, 2021, between Digital World Acquisition Corp. (the “Company,” “Digital World” or “DWAC” or, following the closing on March 25, 2024, “TMTG” or “New Digital World”), DWAC Merger Sub, Private TMTG, ARC
              Global Investments II (“ARC”), LLC and TMTG’s Chief Legal Officer, as amended on May 11, 2022, August 9, 2023 and September 29, 2023 (the “Merger Agreement”). Pursuant to the Merger Agreement, and subject to the terms and conditions set forth
              therein, upon the closing of the Business Combination (the “Closing” and, the date of the Closing, the “Closing Date”), DWAC Merger Sub merged with and into TMTG, with TMTG surviving as a wholly owned subsidiary of Digital World (the
              “Merger”). TMTG’s stockholders received 87,500,000 shares of Digital World Class A common stock (excluding 40,000,000 Earnout Shares (defined herein)), subject to certain adjustments and earnout provisions, in exchange for TMTG common stock. This was,
              in substance, a continuation of the TMTG shareholders’