Trump Media shareholder UAV shed more than 7.5 million shares

United Atlantic Ventures LLC, a majority shareholder of Trump Mediasold or otherwise disposed of more than 7.5 million shares of the company, according to a regulatory filing on Thursday.

UAV, whose managing member is Andrew Litinsky, owned 7,525,000 shares of Trump Media as of March 25, which represented 5.5 percent of the social media company’s outstanding shares, according to a 13G filing with the Securities and Exchange Commission.

“As of the date of this filing, United Atlantic Ventures LLC owns 100 shares,” the filing said.

Former President Donald Trump owns more than 56 percent of Trump Media, which trades under the symbol DJT on the Nasdaq.

UAV is a partnership between Litinsky and Wes Moss, who originally pitched the idea of ​​Trump Media to Trump in February 2021 after the former president was banned from Twitter and Facebook following the deadly riot at the Capitol on January 6 .

Both Litinsky and Moss were contestants on Trump’s television show “The Apprentice.”

UAV received more than 7.5 million shares in late March when Trump Media went public after completing its merger with blank check company Digital World Acquisition Corp.

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