I really thought the 6 month thing for IPOs was a law...
But I really don't know, I just no it was a weird and probably not intentional loophole when redditors were able to immediately sell their stock they got before the IPO.
Like. I don't think its a "good faith" thing, if you get in before the IPO because you work for the company, theres no way around the wait.
But I might be wrong
The stock wouldn't be subject to IPO laws because there was no IPO.
Trump Media 'went public' by being bought by another, already publicly traded, company. That company changed its appearance to become the current Trump Media thus bypassing the IPO process.
...and bypassing a whole bunch of SEC oversight, which is why they did it that way.
I heard it mentioned that even if the board approved an early sale for Trump, the company may still be in trouble for failing it’s duty to share holders (since allowing a Trump dump would pretty much finish off the company).
I am also learning here, but I always thought that any short positions or intended divestures had to be part of the prospectus. Otherwise the principals are open to a flurry of lawsuits. Not that those would scare him.
I really thought the 6 month thing for IPOs was a law...
But I really don't know, I just no it was a weird and probably not intentional loophole when redditors were able to immediately sell their stock they got before the IPO.
Like. I don't think its a "good faith" thing, if you get in before the IPO because you work for the company, theres no way around the wait.
But I might be wrong
The stock wouldn't be subject to IPO laws because there was no IPO.
Trump Media 'went public' by being bought by another, already publicly traded, company. That company changed its appearance to become the current Trump Media thus bypassing the IPO process.
...and bypassing a whole bunch of SEC oversight, which is why they did it that way.
I heard it mentioned that even if the board approved an early sale for Trump, the company may still be in trouble for failing it’s duty to share holders (since allowing a Trump dump would pretty much finish off the company).
I am also learning here, but I always thought that any short positions or intended divestures had to be part of the prospectus. Otherwise the principals are open to a flurry of lawsuits. Not that those would scare him.
There was no prospectus.