Trump Media and Technology Group has closed a $2.44 billion private placement with roughly 50 institutional investors, aiming to establish one of the largest Bitcoin treasuries among publicly-traded U.S. companies.
The offering included the sale of 55.8 million common shares at $25.72 each, generating $1.44 billion, and $1 billion in 0% convertible senior secured notes due 2028, convertible at $34.72 per share.
Net proceeds of approximately $2.32 billion will be used to acquire Bitcoin (BTC) and fund general corporate operations. Crypto.com and Anchorage Digital will handle custody for the Bitcoin treasury.
Bitcoin and ‘financial freedom’
Trump Media, operator of Truth Social, Truth+, and Truth.Fi, said the deal boosts its liquid assets above $3 billion.
CEO Devin Nunes described the move as a step toward “financial freedom,” aligning with the company’s crypto-first strategy and broader vision for expansion in the “America First economy.”
The announcement follows recent plans from Trump Media to partner with Crypto.com on crypto-focused ETFs and financial services.
With the addition of Bitcoin to its balance sheet, Trump Media joins a growing number of firms, including those of Strategy and GameStop, which are using debt and equity raises to accumulate crypto.
The offering was led by Yorkville Securities and Clear Street, with Cantor Fitzgerald acting as financial advisor. Legal counsel was provided by Nelson Mullins for the company and Reed Smith for the placement agents.
DJT shares climbed on the news Friday, recovering some ground after a 10% dip earlier in the week. The stock remains down over 36% year-to-date.