Trump Media & Technology, TAE Technologies, And Texas Ventures Acquisition III In Talks Regarding Spin-Off Of Truth Social

Trump Media & Technology Group Corp. (Nasdaq, NYSE Texas: DJT) ("TMTG"), TAE Technologies, Inc. ("TAE"), and Texas Ventures Acquisition III Corp. (NASDAQ:TVA) ("Texas Ventures III") today announced that they are engaged in ongoing discussions regarding a potential spin-off by TMTG of businesses including Truth Social into a new publicly-traded company ("SpinCo") following the closing of the previously announced pending merger transaction between TMTG and TAE. In this contemplated transaction, shares of SpinCo would be distributed to shareholders of record of TMTG from prior to the closing of the merger with TAE, and thereafter SpinCo would merge with Texas Ventures III.

The TAE businesses, along with certain of TMTG's existing businesses and assets, would remain with the current public company (TMTG) following the completion of the spin-off. The previously announced merger will combine the strength of TMTG's existing robust balance sheet with TAE's leading technologies. The contemplated transaction is intended to create shareholder value through the creation of pure play companies, each with distinct strategies.