2 weeks ago
Trump Media and Technology Group (DJT), the relation of Truth Social, said connected Friday it has closed a $2.44 cardinal fundraising woody to found a bitcoin BTC treasury.
DJT shares erased aboriginal greeting losses and were up 5.6% connected the time pursuing the news.
The institution sold astir 56 cardinal shares astatine $25.72 apiece and issued $1 cardinal successful 0% convertible notes maturing successful 2028, according to a press release. Some 50 organization investors subscribed to the offering. The placement was led by Yorkville Securities and Clear Street, with Cantor Fitzgerald serving arsenic fiscal advisor.
The steadfast said it volition nonstop the nett proceeds of $2.32 cardinal to acquisition BTC for its treasury, with Crypto.com and Anchorage Digital providing custody services.
The determination adds the institution to a increasing database of publicly-traded firms that person raised superior for adding crypto assets similar bitcoin to their equilibrium sheet, a playbook pioneered by Michael Saylor's Strategy (MSTR). The bundle steadfast has go the world's largest firm holder of the starring crypto asset, accumulating implicit $60 cardinal successful BTC by financing the purchases via a operation of equity and indebtedness issuances.
Trump Media shared plans earlier this twelvemonth to motorboat a financial services platform focusing connected crypto and customized exchange-traded funds. It besides said it wants to spouse with crypto speech Crypto.com to motorboat the ETF products.
English (US) 