EDIT: See Ciuccio's comment below. There is an inadvertent ambiguity here, and to resolve it I will resolve the question strictly as originally stated in the operative language: this market will resolve YES if Donald Trump transacts any DJT shares before the end of the nominal lockup period. Even if those shares were not subject to a lockup provision.
Donald Trump's Trump Media & Technology Group will go public if the merger with Digital World Acquisition Corp. goes through. (This market will resolve N/A if it does not.) Trump will own nearly 60% of the shares in the public entity, which will trade under the ticker symbol "DJT." Currently, it is estimated that his stake in DJT will be worth billions of dollars.
Trump has a pressing need for cash, to make loans to his campaign if necessary, to fund his ongoing trials and appeals, and to pay damages or post bonds in cases that he has lost. But under the terms of the merger agreement, Trump is subject to a lockup term. For six months, he cannot sell any of those shares (or lend them, sell options on them, pledge them as collateral, or use them in any other way to get cash).
There is a great deal of speculation about whether Trump will find a way around the lockup period, such as asking the board of DWAC to grant him a waiver (https://www.nytimes.com/2024/03/21/business/trump-truth-social-merger.html) or creatively interpreting the terms of the agreement (https://twitter.com/quantian1/status/1771343852856635533).
This market will resolve YES if Donald Trump transacts any DJT shares before the end of the nominal lockup period.
(In the event a court blocks the transaction or the deal fails in some way, this market will resolve YES if contracts were signed or there is some other objective indicator that a firm deal was reached. It will resolve NO if there is merely talk of a deal or a promise to do a trade that never happens.)
I may have to use my discretion to resolve this question, and I will not trade in this market.
The lock up agreement: https://www.sec.gov/Archives/edgar/data/1849635/000119312521308146/d230221dex102.htm
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