Trump Media to buy assets of WorldConnect Technologies in all-stock deal

By Stephen Nakrosis

Trump Media & Technology Group (DJT) on Wednesday said it will acquire substantially all of the assets of WorldConnect Technologies.

The acquisition will involve certain agreements, including an option agreement dated Feb. 5, between WorldConnect and Perception Group, along with its affiliates.

As part of the deal, Trump Media said it expects to receive from Perception worldwide non-exclusive perpetual licensing rights for a new CDN technology the company plans to use for its content distribution network. Under the terms of the deal, Perception will face certain restrictions on operating in the U.S. market in areas that may compete with Trump Media for five years.

Trump Media will issue up to 5.1 million shares of common stock to WorldConnect IPTV Solutions and JedTec. A total of 2.6 million shares will be issued on the closing date, with the remainder being issued upon the satisfaction of certain milestones. Closing is expected to occur as soon as this month, following the company's implementation of Perception software and network.

The deal gives Trump Media an option to purchase Perception, along with a right of first refusal to acquire Perception if it receives a bona fide written offer from an unaffiliated third party to purchase more than 50% of its assets.

Also on Wednesday, Trump Media said it entered into a standby equity purchase agreement with YA II PN, an investment fund managed by Yorkville Advisors, giving it the option to issue up to $2.5 billion shares of common stock to Yorkville over three years.

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07-03-24 1811ET

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