Trump Media & Technology Group Corp (NASDAQ:DJT) shares are pulling back in Monday's after-hours session after the company filed a prospectus for the resale of nearly 38 million shares of common stock.

What Happened: After the market closed on Monday, Trump Media, the parent company of social media platform Truth Social, filed a prospectus related to the resale of 37.97 million shares of common stock.

Trump Media said the shares included in the prospectus consist of shares that it may elect to issue and sell to Yorkville from time to time pursuant to the purchase agreement the company entered into on July 3, in which Yorkville committed to purchase up to $2.5 billion worth of Trump Media common stock.

Trump Media had approximately $350 million in cash and zero debt on its balance sheet as of July 1.

The news comes after Trump Media shares closed Monday up more than 31% following the attempted assassination of former President Donald Trump at a rally in Pennsylvania on Saturday. A bullet grazed Trump's ear at the campaign rally and he was treated at a local hospital, then released later that night.

Trump's odds of winning the 2024 presidential election reportedly surged to an all-time high after he survived the assassination attempt over the weekend.

Trump also selected Sen. J.D. Vance (R-Ohio) as his vice-presidential running mate on Monday as the Republican National Convention kicked off in Milwaukee, which helped lift other Trump-linked stocks.

DJT Price Action: Trump Media shares closed Monday up 31.37% before pulling back in extended trading. The stock was down 10.47% in after-hours trading at $36.33 at the time of publication, according to Benzinga Pro.

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