Trump Media brings in over $105 million from DJT stock warrants

By James Rogers

Shares of the company, which runs former President Donald Trump's social-media platform Truth Social, ended Tuesday's session down

Trump Media & Technology Group Corp. said that the cash exercise of stock warrants between June 20 and July 1 has resulted in more than $105 million in cumulative proceeds for the company.

Warrants let investors buy or sell stocks at a specific predetermined price within a specified time frame.

Related: Trump Media's stock erases early gains as markets react to Biden's uneven debate performance

In a statement released early Tuesday, Trump Media (DJT) also said that approximately $41 million of restricted cash has recently become unrestricted. As a result, Trump Media had more than $350 million in cash - and no debt - on its balance sheet as of July 1, according to the company.

Shares of Trump Media, which runs former President Donald Trump's social-media platform Truth Social, ended Tuesday's session down 4.1%. The stock is up 81.3% in 2024 but is down 38.5% in the last three months.

Related: Trump Media expects nearly $70 million from move that helped cause stock's skid

Trump Media shares have fallen 38.8% since Trump's 34-count conviction in a criminal hush-money trial in May. The former president owns about two-thirds of Trump Media's outstanding stock.

Ciara Linnane and Bill Peters contributed.

-James Rogers

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07-02-24 1858ET

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