Trump's media company is selling shares to hedge funds to capitalize off a steep runup in the share price
Former President Donald Trump's new media company is trying to raise up to $1 billion by selling shares to hedge funds, according to, as it seeks to capitalize off a steep runup in the share price of the blank check company that’s acquiring it.... [+]The Trump Media and Technology Group is reportedly looking to secure funding through a private investment in public equity, commonly called a PIPE, selling shares that value the company around $3 billion.
DWAC shares surged more than 15% from $38.50 Wednesday afternoon to close at $44.35 after the Reuters report was published, and later climbed above $50 at times after hours.
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