Trump Media And Technology Group Enters Into Two Key Agreements To Bolster Its Liquidity By $2.5 Billion And Acquire Key Assets For Its Upcoming CDN
This is not investment advice. The author has no position in any of the stocks mentioned. Wccftech.com has a disclosure and ethics policy.
Trump Media and Technology Group (DJT), the parent entity of the Truth Social platform, has just entered into key agreements that not only pave the way for the company to substantially boost its liquidity but also acquire prime assets for its upcoming Content Delivery Network (CDN).
Trump Media's All-Equity Deal With WorldConnect Technologies And Its Affiliates
To wit, Trump Media and Technology Group has entered into an all-equity deal with WorldConnect Technologies, WorldConnect IPTV Solutions, and JedTec to acquire key assets, including the source code, for its upcoming Content Delivery Network (CDN).
Related Story Trump Media And Technology Group Now Has $350 Million In Cash After Raising 51 Percent More Funds Than Initially Expected From The Exercise Of Warrants
Back in May, Trump Media had noted that it was done with the research and development phase of its new live TV streaming platform and that it would begin to scale up its own Content Delivery Network (CDN). In the first phase, Trump Media and Technology Group plans to introduce live streaming to the iOS, Android, and web versions of the Truth Social platform. In the second phase, the company intends to launch a dedicated OTT streaming app for smartphones and tablets, and then release a version of the app for smart TVs in the third phase.
Trump Media and Technology Group intends to leverage WorldConnect's existing agreements with the Perception Group to rollout CDN technology for the Truth Social platform. To do so, Trump Media will incorporate Perception's intellectual property assets that are already available to WorldConnect and its affiliates.
Under the terms of this deal, Trump Media will issue 5.1 million shares as consideration to WorldConnect IPTV Solutions and JedTec. Once the deal is closed, these shares will be subject to selling restrictions, whereby not
Read more on wccftech.com
