Announced by Trump Media and Technology Group, the $2.44 billion in revenues from its private sale to establish its Bitcoin treasury have been raised.
This comes only a week after Trump Media said it will create a Bitcoin treasury by offering up to $2.5 billion in common shares and convertible notes.
Nasdaq-listed On Friday, Nasdaq-listed Trump Media and Technology Group said that it sold part of its common stock (DJT) and senior convertible notes to buy Bitcoin (BTC), thereby generating $2.44 billion.
Trump Media concludes an offering of $2.44 billion to buy Bitcoin.
A Friday press statement by Donald Trump-backed Trump Media and Technology Group reveals that it has gathered $2.44 billion to set its Bitcoin treasury reserve.
The business said it concluded a private offering with around fifty institutional investors. With 55.8 million common stock shares sold at $25.72 each, the offering produced gross revenues of $1.44 billion.
Additionally issued at a conversion price of $34.72 per share, $1 billion of 0.0% convertible senior secured notes due 2028. This resulted in overall earnings of around $2.44 billion. From the earnings, Trump Media intends to build its Bitcoin treasury with $2.3 billion.
Just a few days prior, Trump Media announced that it would spend up to $2.5 billion on Bitcoin purchases. The company claims that by purchasing Bitcoin, it will rank among the leading publicly traded companies that own the cryptocurrency.
Additionally, it stated that as of the end of Q1’25, Bitcoin will be listed on its balance sheet alongside $759 million in short-term assets, cash equivalents, and current cash.
TMTG Chairman and CEO Devin Nunes remarked in the news release, “Trump Media is focused on acquiring great assets; this deal will give us the financial freedom to implement the rest of our strategies.”
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