Trump Media unveils $2.5 Billion Bitcoin treasury initiative

Trump Media and Technology Group Corp. ("Trump Media"), the company behind popular platforms like Truth Social, Truth+, and the FinTech brand Truth.Fi, has announced a significant private placement deal. The company has secured subscription agreements with around 50 institutional investors to raise roughly $2.5 billion. This capital will be split between issuing approximately $1.5 billion of its common stock and $1.0 billion in 0.00% convertible senior secured notes.

The deal is scheduled to close on or about May 29, 2025, pending usual closing conditions. The major purpose behind this offering is to establish a dedicated Bitcoin treasury, marking one of the largest moves by any public company into cryptocurrency assets. This initiative also finalizes Trump Media's special acquisition fund, one of several strategies developed to strengthen its position in the America First economy through future mergers and acquisitions.

CEO and Chairman Devin Nunes stated, "We consider Bitcoin to be a pinnacle of financial freedom. By adding this asset to our portfolio, Trump Media is equipping itself to better resist the harassment and discrimination that many U.S. companies and citizens face from financial institutions. This move will also support future transactions across our platforms, including subscription services and a utility token. It’s a major step towards our evolution into a holding company with more profit-generating, high-value assets in line with America First principles."

The $2.5 billion deal includes issuing common stock priced at the market rate and convertible notes with a conversion price set at a 35% premium to the market value. With this financing, Bitcoin will join the company’s current balance sheet, which already holds cash, cash equivalents, and short-term investments totaling $759.0 million as of the end of the first quarter of 2025.

Several financial firms, including Yorkville Securities, LLC, Clear Street LLC, BTIG, LLC, and Cohen & Company Capital Markets, served as placement agents, while Cantor Fitzgerald & Co. provided financial advice. Nelson Mullins Riley & Scarborough LLP and Reed Smith LLP are offering legal counsel to Trump Media and to the placement agents, respectively. Custody for the Bitcoin treasury will be managed by Crypto.com and Anchorage Digital.

This press release does not serve as an offer to sell or a solicitation to buy securities, nor does it imply any sale of these securities in any jurisdiction where such actions would be considered unlawful without proper registration or qualification under local securities laws.