TMTG to Boost Bitcoin Holdings with $2.3B Fundraiser
Trump Media & Technology Group, the umbrella company for Truth Social, has filed a Form S-3 with the SEC. This follows a $2.3 billion capital raise aimed at building one of the biggest Bitcoin treasuries.
The filing,announced on June 5,links to recent equity and debt deals with about 50 investors. The company sold 55.8 million common shares at $25.72 each and issued $1 billion in zero-coupon convertible notes due 2028,convertible at $34.72 per share. This totaled approximately $2.32 billion.
The funds will go towards acquiring Bitcoin and general corporate activities. Crypto.com and Anchorage Digital will custody the bitcoin holdings.The filing includes a universal shelf provision,allowing TMTG to issue more securities in the future if needed.
Devin Nunes, CEO, sees this as part of Trump Media’s growth plan.“We’re setting the foundation to grow and attract more customers,” he said. the move also aligns with their mission to stay autonomous from traditional finance.
Trump Media is collaborating with Crypto.com on new crypto products. This puts them alongside firms like Strategy and GameStop, using capital markets to invest in digital assets.
