Trump Media shares plunge 13% after company files to issue additional DJT stock

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Stefani Reynolds | AFP | Getty Images Shares of Trump Media plunged more than 13% on Monday after the company filed to issue millions of additional shares of stock.
The filing describes a plan to offer more than 21.4 million shares of common stock, issuable “upon the exercise of warrants,” the filing shows.
The company also seeks to offer the resale of up to 146.1 million shares of stock from “selling securityholders,” 114.8 million of which are held by Trump himself.
Trump owns 78.8 million shares of the company, and stands to obtain 36 million “earnout shares” if the stock stays above a certain price for enough trading days.