Trump Media & Technology Group Corp. (DJT): debt financing — DWAC issues $770K in convertible promissory notes to fund business combination costs

Trump Media & Technology Group Corp.

Issued seven promissory notes to accredited investors for aggregate principal of up to $770,000.
Notes have conversion prices of $8.00 or $10.00 per unit; no interest; due upon business combination or winding up.
Proceeds will be used to pay costs and expenses in connection with completing an initial business combination.
Notes are unregistered, issued under Section 4(a)(2) exemption; conversion requires stockholder approval.

Key facts

Extracted from this filing and checked against the source text.

Debt Financings SEC 8-K Item 2.03/2.04 confidence 0.9

Trump Media & Technology Group Corp. incurred convertible notes of up to $770,000 at bears no interest maturing the earlier of (i) the date on which the Company consummates its Business Combination and (ii) the date that the winding up of the Company is effective.

Instrument: convertible notes
Principal: up to $770,000
Rate: bears no interest
Maturity: the earlier of (i) the date on which the Company consummates its Business Combination and (ii) the date that the winding up of the Company is effective
Event: incurrence

Exact text from the filing

Digital World Acquisition Corp., a Delaware corporation (the " Company ") issued six promissory notes (the " Notes " and each a " Note ") to certain accredited investors (the " Holders ") for a total aggregate principal amount of up to $770,000

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Material Agreements SEC 8-K Item 1.01/1.02 confidence 0.9

Trump Media & Technology Group Corp. entered into Notes with certain accredited investors valued at total aggregate principal amount of up to $770,000 (effective 2024-02-06).

Action: entry
Agreement: notes offering
Counterparty: certain accredited investors
Value: total aggregate principal amount of up to $770,000
Effective: 2024-02-06

Exact text from the filing

Digital World Acquisition Corp., a Delaware corporation (the “ Company ”) issued six promissory notes (the “ Notes ” and each a “ Note ”) to certain accredited investors (the “ Holders ”) for a total aggregate principal amount of up to $770,000

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Source: SEC EDGAR

accession 0001193125-24-034899

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