Trump Media Raises $2.32 Billion for Bitcoin Treasury

Trump Media and Technology Group Corp. has successfully closed a private placement offering with approximately 50 institutional investors. The offering included the sale of 55,857,181 shares of the company’s common stock at $25.72 per share, generating gross proceeds of approximately $1.44 billion. Additionally, the company issued 0.00% convertible senior secured notes due 2028 in the principal amount of $1.00 billion, at a conversion price of $34.72 per share, for an aggregate purchase price of approximately $2.44 billion. The total net proceeds from the offering amount to approximately $2.32 billion, which will be used to create a Bitcoin treasury and for other general corporate purposes and working capital.

This deal marks one of the largest Bitcoin treasury transactions for any public company. With the net proceeds and the company’s strategy, Trump Media is set to become one of the top Bitcoin holders among publicly-traded U.S. firms, boasting one of the most comprehensive Bitcoin treasury strategies. The company’s CEO and Chairman, Devin Nunes, highlighted the significance of this financial move, stating that it will provide the company with the financial freedom to implement its strategic plans. This includes having more than $3 billion in liquid assets and exposing shareholders to Bitcoin, positioning Trump Media for rapid expansion within the America First economy.

The offering will add Bitcoin to Trump Media’s balance sheet, which already includes existing cash, cash equivalents, and short-term investments totaling $759.0 million as of the end of the first quarter of 2025. Yorkville Securities, LLC and Clear Street LLC acted as Co-lead placement agents, with BTIG, LLC and Cohen & Company Capital Markets acting as Co-placement agents. Cantor Fitzgerald & Co. served as the financial advisor, while Nelson Mullins Riley & Scarborough LLP and Reed Smith LLP provided legal counsel to the company and the placement agents, respectively. Crypto.com and Anchorage Digital will provide custody for Trump Media’s Bitcoin treasury.