https://s3.amazonaws.com/sec.irpass.cc/2660/0001140361-24-019745.htm
TMTG filed a S1 to issue more stock and to exercise warrants.
Up to 21,491,251 Shares of Common Stock Issuable Upon the Exercise of Warrants Up to 146,108,680 Shares of Common Stock Up to 4,061,251 Warrants to Purchase Common Stock
Cash held in Trust means it's money held by someone who isn't a owner. Which breaks your question down to
Where does the money come from?
Does the company have access to it?
We won't be able to answer one. But a Trust account usually has a legal stipulation that the money is accessible by the company through a managing trustee, which means multiple signing authorities. Straight up cash is often movable by one individual (with a sign off from a company accountant or related staff).
No, that is nonsense.
A trust is a legal instrument with one (or more) trustors/settlors, one (or more) trustees, and one (or more) beneficiaries. It also has conditions in the Trust Indenture as to what the purpose is, how long it lasts, and what the conditions on the use of the assets are.
I suspect it is related to the warrants (as I posted above), but I don't know that for sure.
It has nothing at all to do with how many signatures need to be on a bank account, although that would likely be one of the many terms in the trust agreement.
If your explanation was correct, we would see this line entry on most 10K's.
I have never seen it on any, and I have seen many.
It is something out of the ordinary, and for a special purpose.
Not related to the 'Warrants".
All SPACs MUST have a Trust account securing the IPO proceeds.
Happens all the time and not out of the ordinary.
The $310,623,083 held in trust is the proceeds from the merger.
Yes