Trump Media and Technology Group (DJT), the operator of Truth Social, said on Friday that he had concluded a fundraising agreement of 2.44 billion dollars to establish a bitcoin
Treasury.
DJT shares erased the losses early in the morning and increased by 5.6% the day after the news.
The company sold nearly 56 million shares to $ 25.72 each and issued $ 1 billion in convertible tickets from 0% to maturation in 2028, according to a press release. About fifty institutional investors have subscribed to the offer. The placement was led by Yorkville Securities and Clear Street, Cantor Fitzgerald serving as a financial advisor.
The firm said it would run the net product of $ 2.32 billion to buy BTC for its treasure, crypto.com and digital anchorage providing childcare services.
This decision adds the company to a growing list of listed companies that have noted capital to add cryptographic assets like Bitcoin to their balance sheet, a game book launched by Michael Saylor’s strategy (MSTR). The software company has become the world’s largest holder of the main asset in cryptography, accumulating more than $ 60 billion in BTC by funding purchases via a combination of equity and debt emissions.
Trump Media shared plans earlier this year to launch a crypto financial service platform and the negotiated funds on personalized exchanges. He also said that he wanted to join Crypto Exchange Crypto.com to launch ETF products.
