A Florida firm owned by former contestants on 鈥淭he Apprentice鈥� has disposed of nearly all its 5.5% stake in Trump Media & Technology Group, which owns former president Donald Trump's Truth Social platform.
United Atlantic Ventures LLC, which owned around 7.53 million shares of common stock in TMTG, now owns only 100, according to a regulatory filing Thursday.
Fort Lauderdale-based UAV is owned by Andrew Litinsky and Wesley Moss, former contestants on Trump鈥檚 TV show, 鈥淭he Apprentice鈥� who also helped facilitate a merger that .
Attorneys for Trump Media have argued that UAV is not entitled to shares in the company because of mismanagement by Litinsky and Moss.
But earlier this month, in a lawsuit filed against Odyssey Transfer and Trust, a securities transfer agent. The court's summary judgment in the case came in response to UAV seeking assurance from the judge that it would be able to sell its minority stake in TMTG.
TMTG鈥檚 share price hit a high of $79.38 on its first day of trading. It closed Thursday at $13.98 per share.
The Associated Press
