Former 'Apprentice' Contestants Sell Nearly 6% Stake in Trump Media & Technology Group

Two former contestants on the TV show "The Apprentice" who helped found Truth Social, the flagship social media product of Trump Media & Technology Group, have sold their nearly 6% stake in the company. United Atlantic Ventures, an investment company formed by the two contestants, Andy Litinsky and Wes Moss, sold approximately 11 million shares of Trump Media & Technology Group, after the lockup provision that barred large investors from selling shares expired on September 19.

The two men's entire equity stake consisted of about 7.5 million shares from when Trump Media merged with a public shell company in March and 3.4 million shares awarded weeks later, after the stock hit performance targets in post-merger trading. This would have been worth roughly $150 million at the price the stock was traded on Thursday. The sale comes as the company's stock price has been heavily traded since the lockup expired, and the stock has fallen nearly 5% over that time.

Key Takeaways:

• Two former contestants on "The Apprentice," Andy Litinsky and Wes Moss, sold nearly 6% of their stake in Trump Media & Technology Group, which is worth approximately $150 million at the current stock price.
• The sale was made after the lockup provision that restricted the sale of shares expired on September 19.
• United Atlantic Ventures, the investment company formed by the two men, retained only 100 of the 7,525,000 shares of Trump Media it originally held.
• The company's stock has lost nearly 5% in value since the lockup expired, despite being heavily traded.
• Trump Media's stock has fallen 78% since the company's merger with a cash-rich special purpose acquisition company in March.

Statistics:

• 11 million shares of Trump Media & Technology Group sold by United Atlantic Ventures
• $150 million: approximate worth of the sale based on the current stock price
• 7.5 million shares: original stake of Andy Litinsky and Wes Moss in Trump Media
• 3.4 million shares: additional shares awarded to Litinsky and Moss after the stock hit performance targets in post-merger trading
• 5%: decline in Trump Media's stock price since the lockup expired
• 78%: overall decline in Trump Media's stock price since its merger with a cash-rich special purpose acquisition company in March
• 115 million: number of shares owned by Donald Trump in Trump Media & Technology Group
• $1.6 billion: current value of Trump's nearly 60% stake in the company

Sources:

• "United Atlantic Ventures, a company formed by former contestants on 'The Apprentice,' sold nearly 6 percent stake in Trump Media & Technology Group." - New York Times
• "The two men's entire equity stake consisted of about 7.5 million shares from when Trump Media merged with a public shell company in March and 3.4 million shares awarded weeks later, after the stock hit performance targets in post-merger trading." - New York Times
• "The lockup restricting the sale of shares also applied to Mr. Trump, but the former president said days before the restriction ended that he had no plans to sell any of his 115 million shares." - New York Times
• This article appeared in print on page B4.