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).
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).