Trump Media: $350M in cash after $105M raised from warrants

Trump Media and Technology Group, the parent entity of the Truth Social platform, disclosed Tuesday that it managed to raise $105 million funds from the exercise of warrants between June 20 and July 1, 2024, collecting 51% more than expected.

“Additionally, approximately $41 million of restricted cash has recently become unrestricted. As a result, the Company had more than $350 million in cash—and no debt—on its balance sheet as of July 1, 2024,” it said in a statement.

Volatile days for the company owned by former President Donald Trump, after the first presidential debate and news about his legal situation have moved the company's stock back and forth. The company's stock dropped 2.06% at 11:25 am ET, going for $32.40 apiece.

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