Trump media approves $400M stock buyback amid $100M funding from DRW and Bitcoin ETF filing, endorses $2.3B Bitcoin plan

Trump Media stock rose Monday after the company announced a $400 million share repurchase plan, while reaffirming its commitment to a multibillion-dollar bitcoin strategy.

Trump Media Share Buyback Program Approved

Trump Media and Technology Group, the parent company of Truth Social, said Monday that its board has authorized a share repurchase of up to $400 million, according to a press release.

The company confirmed that the buyback will include either common stock or warrants. The purchase will be made in an open market transaction and all repurchased shares will be retired.

The company said the buyback will comply with all applicable rules and regulations set by the Securities and Exchange Commission. It said that the decision reflects its confidence in the company's long-term business goals. CEO Devin Nunes said,

“The Board took a vote of confidence in our Company, our stock, and our strategic plans.”


The company also noted that this buyback plan is a separate operation and does not affect the previously announced Bitcoin investment program. $TRUMP Media said it has about $3 billion in cash, giving it flexibility for both corporate initiatives and investor-focused initiatives.

The Bitcoin Strategy remains in effect.

Despite launching a massive share repurchase program, Trump media confirmed that his $2.3 billion bitcoin strategy remains active.

In late May, the company announced a private placement offering, consisting of both stock and debt, to fund its plan to build a bitcoin treasury.

For now, the company is moving forward with its cryptocurrency goals. The Trump media has previously said it intends to follow a similar model in strategy, led by Michael Siler.

Executives said the two programs — buybacks and bitcoin purchases — are independently funded and will not interfere with each other.

The company stressed that its financial position supports a dual strategy. It also suggested that more steps could be taken in the future as it explores additional financing measures, including a possible buyback of convertible notes.

DRW Investment and ETF Filing Signal Continued Crypto Focus

Last week, Trump Media Investments secured $100 million from Chicago-based trading firm DRW. The funds are part of a larger strategy to allocate $2.3 billion in bitcoin.

$TRUMP has not confirmed to the media how many bitcoins he has acquired so far, but said he will continue to implement his cryptocurrency plans over time.

In addition to the investment, $TRUMP Media has also filed to launch a spot bitcoin exchange-traded fund (ETF).

The ETF will be listed on NYSE Arca, the watchdog managed by Crypto.com, according to a filing in partnership with Yorkwell and Foris DAX.

Shares of Trump Media ( DJT ) rose more than 3% during early trading Monday. The price rose to $18.39 by mid-morning Eastern time. The gain follows weeks of volatility for the stock, which has fallen more than 50% since January.

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