Trump Media and Technology Group Corp. (NASDAQ, NYSE Texas: DJT), the operator of Truth Social, Truth+, and Truth.fi, has filed a registration statement on Form S-3 with the U.S. Securities and Exchange Commission (SEC) related to debt and equity subscription agreements recently entered into with approximately fifty investors. This move has yielded approximately $2.3 billion in total proceeds, marking one of the largest bitcoin treasury deals for a public company.
The registration statement seeks to register for resale approximately 56 million shares of equity and 29 million shares underlying convertible notes, in line with the previously-disclosed agreements. Additionally, Trump Media, having recently become Form S-3 eligible, is including a universal shelf within the registration statement. This shelf will provide the company with greater flexibility to pursue various growth initiatives, including potential mergers and acquisitions, and utilizing capital raising tools such as a possible at-the-market (ATM) offering.
As a result of these activities, Trump Media's CEO and President, Devin Nunes, stated that the company will have the capital, assets, independence, flexibility, and security needed to fulfill its goals of rapid expansion and acquiring crown jewel assets.
In terms of figures, approximately 56 million shares of equity and 29 million shares underlying convertible notes have been registered for resale. The total proceeds from the debt and equity subscription agreements amount to approximately $2.3 billion, making it one of the largest bitcoin treasury deals for a public company. As a result of these announcements, the company's shares have moved -8.04% on the market, and are now trading at a price of $20.12. Check out the company's full 8-K submission here.
