Trump Media and Technology Group Corp., the parent company of the social platform Truth Social, has closed a $2.44 billion private placement with approximately 50 institutional investors, the company announced on Friday.
The financing includes the sale of more than 55 million shares of common stock and $1 billion in convertible senior secured notes due in 2028. Shares were priced at $25.72, and the notes carry a conversion rate of $34.72 per share.
The company said it expects to net approximately $2.32 billion from the offering, with plans to use a substantial portion to establish a Bitcoin treasury. The move positions Trump Media to become one of the largest Bitcoin holders among publicly traded U.S. firms.
Offering Structure and Participants
The financing includes two components: a $1.44 billion equity sale and $1 billion in convertible debt. The notes were issued with a 0.00% coupon and matured in 2028.
The placement was led by Yorkville Securities LLC and Clear Street LLC, with additional participation from BTIG LLC and Cohen & Company Capital Markets. Cantor Fitzgerald & Co. advised on the transaction. Legal counsel was provided by Nelson Mullins Riley & Scarborough LLP for Trump Media and Reed Smith LLP for the placement agents.
Crypto.com and Anchorage Digital have been selected to provide custody for the company’s planned Bitcoin holdings.
Treasury Strategy and Financial Outlook
Trump Media intends to add Bitcoin to its balance sheet alongside its existing $759 million in cash and short-term investments as of the end of the first quarter. The company said proceeds will also support general operations and working capital needs.
The decision to allocate significant capital to Bitcoin reflects a growing trend among public companies diversifying into digital assets. Trump Media said the capital infusion will allow it to pursue broader business strategies across its social, streaming, and financial platforms.
In a statement, CEO Devin Nunes described the offering as a step toward “financial freedom” and a means of advancing company expansion. The firm did not disclose how much Bitcoin it intends to purchase or on what timeline. The company trades under the ticker DJT on both Nasdaq and the NYSE Texas exchange.
