$Trump Media and Technology Group Corp. (Nasdaq, NYSE Texas: DJT) ("Trump Media" or "Company"), operator of the social media platform Truth Social, the streaming platform Truth+ and the FinTech brand Truth.Fi, announced today that it has completed the previously announced private placement ("Offering") involving approximately 50 institutional investors.
The Offering consisted of the sale of (i) 55,857,181 shares of common stock of the Company at a price of $25.72 per share, resulting in gross proceeds of approximately $1.44 billion and (ii) 0.00% convertible secured preferred bonds maturing in 2028 with a nominal value of $1.00 billion, at a conversion price of $34.72 per share, for a total purchase price of approximately $2.44 billion. Trump Media will use approximately $2.32 billion of the net proceeds from the Offering to establish a Bitcoin treasury and for other general corporate purposes and working capital.
As one of the largest Bitcoin treasury transactions for any public company, the net proceeds from this Offering and the Company's strategy will make Trump Media one of the leading Bitcoin holders among publicly traded American companies, with one of the most comprehensive Bitcoin treasury strategies.
CEO and Chairman of Trump Media, Devin Nunes, stated: "Trump Media focuses on acquiring valuable assets, and this agreement will provide us with the financial freedom to implement the remaining strategies. This means the Company will hold over $3 billion in liquid assets, and our shareholders will gain exposure to Bitcoin. This transaction positions Trump Media for the rapid expansion we have always envisioned, and we look forward to further developments in the America First economy."
The Offering will place Bitcoin on the balance sheet of Trump Media alongside existing cash, cash equivalents, and short-term investments totaling $759.0 million at the end of the first quarter of 2025.
