According to the filing, Trump Media raised $2.3 billion from approximately 50 investors through the resale of around 56 million shares of equity and 29 million shares underlying convertible notes. Trump Media touted the deal, which was closed on May 30, as “one of the largest Bitcoin treasury deals for a public company.”

Announcing the deal on May 27, Nunes noted that a Bitcoin Treasury will allow the company to defend itself “against harassment and discrimination by financial institutions.” He added that it will also “create synergies for subscription payments, a utility token, and other planned transactions across Truth Social and Truth+,” a streaming platform.

the registration statement includes a universal shelf to give TMTG “greater flexibility” for future growth plans, the company currently has “no immediate plans” to issue any securities under it.