Trump Media and Technology Group, which operates Truth Social, has raised significant funds through private placement. The rational use of these funds is aimed at supporting the company's strategy.
Funding Through Private Placement
Trump Media and Technology Group has raised $2.44 billion through a private placement deal involving roughly 50 institutional investors. Almost 56 million shares were sold for $25.72 each, and the company also raised $1 billion in convertible notes due in 2028.
Utilization of Funds for Bitcoin Treasury
Led by Devin Nunes, the company has decided to use the $2.32 billion from the IPO to build its Bitcoin treasury and support its everyday operations. Following this move, Trump Media will own Bitcoin in larger quantities than most public U.S. firms.
Management's Opinions
"This deal will give us the financial freedom to implement the rest of our strategies," Nunes said. He added, "It means the Company will have more than $3 billion in liquid assets and our shareholders will have exposure to Bitcoin."
By securing $2.44 billion in funding, Trump Media and Technology Group is taking confident steps toward increasing its Bitcoin assets, which may strengthen its market position and ensure financial stability.
