Form 8-K - Current report
May 09 2024 - 9:52PM
Edgar (US Regulatory)
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SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(D)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): May 9, 2024
Trump Media & Technology Group Corp.
(Exact name of registrant as specified in its charter)
Delaware
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001-40779
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85-4293042
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(State or other jurisdiction
of incorporation)
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(Commission
File Number)
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(IRS Employer
Identification No.)
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401 N. Cattlemen Rd., Ste. 200
Sarasota, Florida 34232
(Address of principal executive offices, including zip code)
Registrant’s telephone number, including area code: (941) 735-7346
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the
following provisions:
☐
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Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)
|
☐
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Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)
|
☐
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Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))
|
☐
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Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))
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Securities registered pursuant to Section 12(b) of the Act:
Title of Each Class
|
|
Trading
Symbol(s)
|
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Name of Each Exchange
on Which Registered
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Common stock, par value $0.0001 per share
|
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DJT
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The Nasdaq Stock Market LLC
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Warrants, each whole warrant exercisable for one share common stock at an exercise price of $11.50
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DJTWW
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The Nasdaq Stock Market LLC
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Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or
Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).
Emerging growth company ☒
If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or
revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐
On May 9, 2024, Trump Media & Technology Group Corp. (the “Company”) sent a letter addressed to the Honorable Ashley Moody, Attorney General of the
State of Florida (the “Letter”) regarding the potential manipulation of the Company’s stock. The Letter respectfully requests that the Attorney General take any actions necessary to determine the nature and extent of any illicit activities among
multiple market counterparties, and encourages her to seek documents and testimony from certain firms that facilitate short sales. The foregoing description of the Letter is subject to and qualified in its entirety by reference to the full text of
the Letter, a copy of which is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
The information furnished pursuant to this Item 7.01, including Exhibit 99.1, shall not be deemed “filed” for purposes of Section 18 of the Securities
Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, and shall not be deemed to be incorporated by reference into any filing of the Company under the Securities Act of 1933, as amended, or
the Exchange Act, except as shall be expressly set forth by specific reference in such filing.
Item 9.01
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Financial Statements and Exhibits.
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(d)
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Exhibits. The following exhibits are filed with this Form 8-K:
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Exhibit
No.
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Description of Exhibits
|
|
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Letter, dated May 9, 2024.
|
104
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|
Cover Page Interactive Data File (embedded within the Inline XBRL document).
|
SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its
behalf by the undersigned hereunto duly authorized.
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Trump Media & Technology Group Corp.
|
|
|
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Dated: May 10, 2024
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By:
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/s/ Scott Glabe
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Name:
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Scott Glabe
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Title:
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General Counsel
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Exhibit 99.1
401 N Cattlemen Rd., Suite 200, Sarasota, FL
May 9, 2024
The Honorable Ashley Moody
Attorney General
State of Florida
PL-01, The Capitol
Tallahassee, FL 32399-1050
Via Electronic Mail
Dear Attorney General Moody,
I write regarding the apparent manipulation of the stock of Trump Media & Technology Group Corp. (“TMTG”), which trades on the Nasdaq Stock Exchange under
the ticker “DJT.”
TMTG is headquartered in Sarasota, Florida. Its stock has appeared continuously since April 2, 2024, on the Nasdaq Reg SHO Threshold List, which results from
persistent failures to deliver (FTDs) and can indicate the illegal “naked” short selling of a security. In fact, recently-published Securities and Exchange Commission (SEC) data indicate that FTDs exceeded 1.1 million DJT shares on April 9, 2024.1
Furthermore, data made available to us indicate that just four market participants have been responsible for over 60% of the extraordinary volume of DJT
shares traded: Citadel Securities, VIRTU Americas, G1 Execution Services, and Jane Street Capital.
While DJT has consistently been among the most expensive stocks to borrow legally, TMTG assesses that some sellers have been paying a drastically reduced rate
to obtain so-called “locates” for seemingly illegitimate “naked” short sales. The anomalies surrounding the trading of DJT suggest the possibility of unlawful collusion among multiple market counterparties including, without limitation: prime
brokers, clearing brokers, executing brokers, options market makers, hedge funds, custodian banks, and other fiduciaries. Such collusion would violate not only federal law, but also Florida law.
As such, I respectfully request that you take any actions necessary to determine the nature and extent of any illicit activities—and particularly whether the
trading in DJT has complied with the Florida RICO Act, for which the predicate crimes include a violation of Chapter 517 relating to sale of securities and investor protection.
To assist in determining whether intra-day short sales of DJT are being improperly approved, I would encourage you to seek documents and testimony from firms
that facilitate short sales, including the following:
1 https://www.sec.gov/data/foiadocsfailsdatahtm
In order for free markets to function as intended, Main Street investors and entrepreneurs must have confidence that they are playing on a level playing field
when transacting with sophisticated, well-connected insiders. We believe market manipulation is modern-day racketeering, and market participants who facilitate trades based on false volume and/or false prices have engaged in fraudulent transactions.
See Fla. Stat. Sec. 517.301. Such transactions risk harm not only to TMTG and its shareholders, but also to a wide array of Florida’s honest
market participants—including businesses, small retail investors and pension funds.
I stand ready to assist your efforts in any way possible. For your reference, I have attached previous letters I sent to Members of Congress and to Nasdaq
Chair and Chief Executive Officer Adena T. Friedman pertaining to these issues.
Sincerely,
Devin Nunes
CEO, Trump Media & Technology Group Corp.
2
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