A top investor in Trump Media & Technology Group has shed most of its position in the Truth Social owner, according to a filing.
One of the biggest investors in Trump Media & Technology Group has sold more than 7.5 million shares in former President Donald Trump 's Truth Social service, according to a new regulatory filing. The investor, United Atlantic Ventures, owned 7.525 million shares in Trump Media as of March, or about 4% of the company's outstanding shares, according to financial data firm FactSet.
As part of their initial deal with Trump, the co-founders had received 8.6 million shares of Trump Media. Meanwhile, Litinsky and Moss had filed an earlier complaint in February to prevent the former president from taking steps they claimed would sharply reduce their stake in Trump Media.It's unclear when United Atlantic Ventures sold the shares, but the filing comes after the expiration of a lock-up period that prevented insiders including Trump from selling their stakes.
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