DWAC moves trust proceeds to interest-bearing deposit account earning 4.50% per annum

Trump Media & Technology Group Corp.

Amended Trust Agreement on Aug 25, 2023 to allow trust proceeds in interest-bearing deposit accounts.
Instructed Continental to liquidate trust investments and move cash to such account.
Interest earned on trust cash is approximately 4.50% per annum as of filing date.
Previously funds were held in U.S. government securities or money market funds per Trust Agreement.
Change may enhance trust value pending completion of business combination with Trump Media.

Key facts

Extracted from this filing and checked against the source text.

Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.7

Trump Media & Technology Group Corp. amended Amendment No. 1 to the Trust Agreement with Continental Stock Transfer & Trust Company (effective 2023-08-25).

Action: amendment
Counterparty: Continental Stock Transfer & Trust Company
Effective: 2023-08-25

Exact text from the filing

(“DWAC”), DWAC entered in an Investment Management Trust Agreement, dated September 2, 2021 (the “Trust Agreement”) with Continental Stock Transfer & Trust Company (“Continental”). On August 25, 2023, DWAC and Continental entered into Amendment No.

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Trump Media & Technology Group Corp. filing history →

Source: SEC EDGAR

accession 0001193125-23-226356

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