The Nasdaq Market site is seen on the day that shares of Truth Social and Trump Media & Technology Group start trading under the ticker “DJT”, in New York City, U.S., March 26, 2024.
Shannon Stapleton | Reuters
United Atlantic Ventures LLC, a major shareholder in Trump Media, has sold or otherwise gotten rid of more than 7.5 million shares in the company, according to a regulatory filing on Thursday.
UAV, whose managing member is Andrew Litinsky, owned 7,525,000 shares of Trump Media as of March 25, which represented 5.5% of the then-outstanding shares in the social media company, according to the 13G filing with the Securities and Exchange Commission.
“As of the date of this filing, United Atlantic Ventures LLC owns 100 shares,” the filing says.
Former President Donald Trump owns more than 56% of Trump Media shares, which trade under the ticker DJT on the Nasdaq.
UAV is a partnership of Litinsky and Wes Moss, who initially pitched Trump the idea of creating Trump Media in February 2021, after the former president was banned from Twitter and Facebook following the deadly Jan. 6 Capitol riot.
Both Litinsky and Moss were contestants on Trump’s television show “The Apprentice.”
UAV received more than 7.5 million shares in late March, when Trump Media went public after completing its merger with the blank-check company Digital World Acquisition Corp.
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