The SEC "declares effective" the registration of Bitcoin treasury of Trump Media
The SEC's approval comes just weeks after Trump Media confirmed its capital increase to buy Bitcoin, after initially denying previous reports.
Trump Media and Technology Group (TMTG), the company owning the president of the United States, Donald Trump's Truth Social platform, and in which the president has partial ownership, has received approval from the U.S. Securities and Exchange Commission (SEC) for the registration statement related to its Bitcoin treasury operation worth $2.3 billion.
According to a document filed with the SEC on June 13, the agency "declared effective" TMTG's S-3 registration application, submitted on June 6, for the Bitcoin treasury operation.
The S-3 is a form used by U.S. companies to register the sale of various securities, such as stocks, options, and different types of debt. TMTG filed the corresponding final prospectus with the SEC on the same day.
The CEO of Trump Media claims that the company is expanding "aggressively"
The document filed with the SEC indicates that as part of its Bitcoin treasury plan, TMTG registered the resale of approximately 56 million shares and 29 million more linked to convertible bonds as part of debt and equity agreements with around 50 investors, raising $2.3 billion.
Although the registration statement includes a universal platform to give TMTG "greater flexibility" for its future growth plans, the company currently has no "immediate plans" to issue securities under it.
The CEO and chairman of Trump Media, Devin Nunes, stated: "We are aggressively implementing our plans to expand the company, our offering, and our capabilities".
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