According to ShibDaily, Trump Media & Technology Group (TMTG), the company behind U.S. President Donald Trump's Truth Social, has successfully navigated a significant regulatory milestone with the approval of its $2.3 billion Bitcoin treasury plan by the U.S. Securities and Exchange Commission (SEC). A filing dated June 13 revealed that the SEC has declared effective TMTG’s S-3 registration statement, initially submitted on June 6. This registration encompasses approximately 56 million shares, along with an additional 29 million shares linked to convertible notes. These shares are part of TMTG's broader equity and debt arrangements involving around 50 investors, expected to generate roughly $2.3 billion in proceeds.
While the filing provides Trump Media & Technology Group the flexibility to raise capital through a universal shelf registration, the company has stated it has "no immediate plans" to issue new securities. This strategic move appears to align with TMTG’s long-term objectives of expanding beyond its current media operations. Devin Nunes, TMTG President and CEO, emphasized the company's aggressive plans to enhance and grow its social media platform, TV streaming platform, and FinTech brand, while establishing a Bitcoin treasury. Nunes stated, "We aim to continue rapidly transforming Trump Media into an indispensable company for the expanding customer base of the Patriot Economy."
In late May, Trump Media & Technology Group refuted reports suggesting it intended to raise $3 billion through equity and convertible bonds for investments in Bitcoin and other cryptocurrencies. TMTG issued a strong rebuttal to the report, accusing the outlet of relying on unreliable sources and criticizing its journalists as "dumb writers" echoing misinformation from "even dumber sources." The report had claimed Trump Media was planning to secure $2 billion through equity sales and another $1 billion via convertible bonds, with the equity portion reportedly priced in relation to the firm’s market capitalization as of the May 23 market close. As speculation continues around TMTG's evolving financial strategy and broader ambitions in the digital economy, the company's next moves will likely be closely monitored by investors and regulators alike.
