A Florida agency owned by former contestants on “The Apprentice” has disposed of almost all its 5.5% stake in Trump Media & Know-how Group, which owns former president Donald Trump’s Reality Social platform.
United Atlantic Ventures LLC, which owned round 7.53 million shares of widespread inventory in TMTG, now owns solely 100, based on a regulatory submitting Thursday.
Fort Lauderdale-based UAV is owned by Andrew Litinsky and Wesley Moss, former contestants on Trump’s TV present, “The Apprentice” who additionally helped facilitate a merger that took Trump Media public in March.
Attorneys for Trump Media have argued that UAV isn’t entitled to shares within the firm due to mismanagement by Litinsky and Moss.
However earlier this month, a federal judge in Delaware ruled in the firm’s favor in a lawsuit filed in opposition to Odyssey Switch and Belief, a securities switch agent. The courtroom’s abstract judgment within the case got here in response to UAV searching for assurance from the choose that it might be capable of promote its minority stake in TMTG.
TMTG’s share value hit a excessive of $79.38 on its first day of buying and selling. It closed Thursday at $13.98 per share.
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