#TrumpMediaBitcoinTreasury Trump Media’s $2.32 Billion Bitcoin Buying Power

According to a May 30 press release, the Trump family-led company sold roughly 56 million shares at $25.72 apiece for gross proceeds of $1.44 billion and issued $1 billion in 0% convertible senior secured notes maturing in 2028. Around 50 institutional investors participated in the sale. The offering was led by Yorkville Securities and Clear Street, with Cantor Fitzgerald serving as financial advisor.

Trump Media said it would use approximately $2.32 billion in net proceeds to buy Bitcoin and for other general corporate purposes. The placement will put the world’s largest cryptocurrency on Trump Media’s balance sheet alongside existing cash, cash equivalents, and short-term investments.

“Trump Media is focused on acquiring great assets, and this deal will give us the financial freedom to implement the rest of our strategies,” Trump Media CEO and Chairman Devin Nunes said in the release. “It means the Company will have more than $3 billion in liquid assets, and our shareholders will have exposure to Bitcoin. The deal positions Trump Media for the kind of rapid expansion we’ve always envisioned, and we look forward to advancing even further throughout the America First economy.”