Early backers of the blank-check company that merged with Donald Trump’s Truth Social platform must post a likely multimillon-dollar bond pending litigation against its onetime CEO, who’s temporarily barred from selling company stock, a Delaware judge ruled.
The bond was justified by an earlier order restricting Patrick Orlando, one of the transaction’s architects, from transferring more than 1.5 million shares of Trump Media & Technology Group Corp., Vice Chancellor Lori W. Will said in a ruling made public Thursday. The shares are held by ARC Global Investments II LLC, the entity formed to sponsor the special purpose acquisition company that ...
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