Trump Media & Technology Group has completed a $2.44 billion private placement with around 50 institutional investors, positioning itself to become one of the largest Bitcoin-holding public companies in the U.S.
The deal included the sale of 55.8 million common shares at $25.72 each, raising $1.44 billion, alongside $1 billion in 0% convertible senior secured notes due in 2028, convertible at $34.72 per share.
Approximately $2.32 billion in net proceeds will be used to purchase Bitcoin and support general operations. Custody of the Bitcoin will be managed by Crypto.com and Anchorage Digital.
As the parent company of Truth Social, Truth+, and Truth.Fi, Trump Media now holds over $3 billion in liquid assets. CEO Devin Nunes called the move a leap toward “financial freedom” and a key milestone in the company’s crypto-first strategy and its expansion into the “America First economy.”
This announcement comes on the heels of Trump Media’s partnership with Crypto.com to develop crypto-focused ETFs and financial services. By adding Bitcoin to its balance sheet, Trump Media joins companies like Strategy and GameStop in using equity and debt offerings to acquire digital assets.
The placement was led by Yorkville Securities and Clear Street, with Cantor Fitzgerald advising. Legal counsel was provided by Nelson Mullins for Trump Media and Reed Smith for the placement agents.
Shares of DJT rose on the news Friday, rebounding after a recent 10% decline, though the stock remains down over 36% for the year.
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