Trump Media And Technology Group To Raise About $2.5 Bln Towards Creating Bitcoin Treasury

(RTTNews) - Trump Media and Technology Group Corp. (DJT) Tuesday said it decided to issue shares and notes of about $2.5 billion, which the company intends to use for creating a Bitcoin treasury.

Trump Media has entered into subscription agreements with about 50 institutional investors, under which it agreed to issue and sell nearly $1.5 billion in stock and $1 billion in 0.00% convertible senior secured notes with a conversion price equal to a 35% premium.

The offering is expected to close by May 29.

"We view Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets. Our first acquisition of a crown jewel asset, this investment will help defend our Company against harassment and discrimination by financial institutions, which plague many Americans and U.S. firms, and will create synergies for subscription payments, a utility token, and other planned transactions across Truth Social and Truth+. It's a big step forward in the Company's plans to evolve into a holding company by acquiring additional profit-generating, crown jewel assets consistent with America First principles," said CEO and Chairman Devin Nunes.