By Sabela Ojea
President Trump's media company is looking to reincorporate in Florida, the latest company proposing to move its legal residence from Delaware.
Trump Media & Technology Group, the company behind Truth Social, on Friday said its board has approved a proposal to reincorporate the business to the Sunshine State and is asking shareholders to approve the measure. In the company's annual proxy filing, the company says that Florida represents the company's principal place of business, and its corporate identity "is intertwined with and inextricably tied" to its headquarters in the state.
"Florida is our home state, we are committed to Florida, and our controlling stockholder is at home in Florida," the company said. It added that it doesn't operate in Delaware or have employees in that state.
The potential reincorporation won't result in a change in the company's business, properties, assets, obligations or management, the company added.
Write to Sabela Ojea at sabela.ojea@wsj.com; @sabelaojeaguix
(END) Dow Jones Newswires
February 21, 2025 17:43 ET (22:43 GMT)
Copyright (c) 2025 Dow Jones & Company, Inc.
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