If he sells his shares he risks losing controlling interest (depending on how much he sells) so I do NOT think he’ll go that route.
the LAST thing anyone needs is someone else controlling TS and Trump’s voice. Been there, done that.
I don’t think it will get that far. He only needs 450 million. The company valuation is 6 billion and he owns 60% of the shares. So he can still sell up tp 600 million of his 3.5 billion dollars in shares and still maintain majority control. But, if the insurer, issuing the 450 million bond, agrees to accept a certain amount of these liquid shares as collateral without selling them unless he ultimately defaults on the judgement after the appeal, he does not have to sell a share. Letitia and Elgernon are screwed with this IPO. She can seize his properties next week for a day or two but no appellate court in their right mind is going to allow her to seize illiquid assets when liquid assets are available for him to post a bond.