Trump Media & Technology Group (TMTG) is reportedly planning to raise $3 billion to invest in cryptocurrencies such as bitcoin. Here are the details:
Fundraising plan: The company intends to sell about $2 billion in new equity and another $1 billion of convertible bonds. The offering size has grown in recent weeks due to strong demand. TMTG may announce the plan at a crypto – investor gathering in Las Vegas. If the offering is completed as targeted, around half of the proceeds will be immediately used to buy bitcoin, and the rest will be allocated opportunistically. This investment would make TMTG the seventh – largest bitcoin holder among publicly listed and private companies.
Share price and market value: TMTG will structure the equity portion as an at – the – market sale, with shares priced near the May 23 close of $25.72. This values the media group at nearly $6 billion.
Underwriters: Brokers Clear Street and BTIG are in talks to underwrite the deal.
Related crypto ventures: TMTG revealed its Truth. fi arm on April 29 and considered launching a digital wallet and a token called Truth+. The company also plans to launch ETFs tracking bitcoin and cronos in partnership with Crypto.com. President Donald Trump and his family have other crypto – related ventures, including an NFT trading card, two meme coins, and investments in crypto mining venture American Bitcoin and stablecoin backer World Liberty Financial.
TMTG has neither confirmed nor denied the reported fundraising plans. In a statement to the Financial Times, the company criticized the outlet’s reporting and sources but did not offer further clarification.
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