Trump Media to sell $1.5B in stock, $1B in convertible senior secured notes

Trump Media (DJT) and Technology Group announced that it has entered into subscription agreements with approximately 50 institutional investors, under which the company agreed to issue and sell approximately $1.5B in the company’s common stock and $1.0B in principal amount of 0.00% convertible senior secured notes, for gross proceeds of an aggregate approximately $2.5B, in a private placement offering that is expected to close on or about May 29. The company intends to use the proceeds for the creation of a Bitcoin treasury. “One of the largest Bitcoin treasury deals of any public company, the move closes Trump Media’s previously announced special acquisition fund, which is one of numerous ways, including through potential mergers and acquisitions, that the company is aiming to expand its reach throughout the America First economy,” the company stated.