(Reuters) – Trump Media (DJT) & Technology Group, ARC Global Investments, has sold almost its entire stake in the media company, it announced in a regulatory filing on Thursday.
ARC and its manager Patrick Orlando now hold about 0.01% of the stock, up from more than 5% or more than 11 million shares in September.
Orlando was the former CEO of the blank check company Digital World Acquisition that took Trump Media public. He was ousted before the deal closed this year.
A Delaware judge ruled in September that Trump Media had violated an agreement with Orlando-based ARC Global and that the fund must receive more than half a million additional shares before a block on sales of the company expires. initiates.
United States President-elect Donald Trump owns nearly 115 million shares and has a nearly 53% stake in Trump Media, owner of the social media platform Truth.
(Reporting by Jaspreet Singh in Bangalore; Editing by Arun Koyyur)