Trump Media and Technology Group Corp., (TMTG) which operates the social media platform Truth Social, the streaming platform Truth+, and the FinTech brand Truth.Fi, has entered into subscription agreements with approximately 50 institutional investors, under which the company agreed to sell approximately $1.5 billion in its common stock and $1 billion in principal amount of 0.00% convertible senior secured notes, for gross proceeds of an aggregate approximately $2.5 billion, in a private placement offering.
The offering is expected to close on or about 29 May 2025 (Thursday), subject to satisfaction of customary closing conditions, TMTG said on Tuesday.
The company intends to use the proceeds for the creation of a Bitcoin treasury, one of the largest deals of any public company, and the move closes the previously announced special acquisition fund of Trump Media, which is one of numerous ways, including through potential mergers and acquisitions, that it is aiming to expand its reach throughout the America First economy.
Trump Media’s CEO and Chairman Devin Nunes viewed Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of their assets.
Big Step Forward
“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 the US 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,” Nunes said.
The $2.5 billion offering, comprising approximately $1.5 billion in Trump Media common stock at the last market price and $1 billion in convertible notes at a conversion price equal to a 35% premium, will place Bitcoin on Trump Media’s balance sheet alongside existing cash, cash equivalents, and short-term investments totalling $759 million as of the end of the first quarter of 2025. Crypto.com and Anchorage Digital will provide custody for Trump Media’s Bitcoin treasury.
The mission of Trump Media is to end big tech’s assault on free speech by opening up the Internet and giving people their voices back.
Trump Media operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations, as well as Truth+, a TV streaming platform focusing on family-friendly live TV channels and on-demand content.
Trump Media is also launching Truth.Fi, the financial services and FinTech brand incorporating America First investment vehicles.
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