Trump Media announced the completion of a deal aimed at purchasing #Bitcoin, with a total value of approximately $2.44 billion, with participation from around 50 institutional investors.
The deal included the following:
- Offering 55.9 million shares of the company, at a price of $25.72 per share, with a total return of approximately $1.44 billion.
- Issuing zero-coupon convertible bonds maturing in 2028, with a nominal value of $1 billion, and a conversion price of $34.72 per share.
- The company clarified that it will use the net proceeds, amounting to approximately $2.32 billion, to purchase Bitcoin to be part of the company's reserves, and for general corporate purposes and working capital.
- The company's stock rose by about 5% during mid-day trading.
