Trump Media Scores $2.44B in Epic Private Placement, Eyes Massive Bitcoin Haul

Holy smokes! Trump Media and Technology Group just pulled off a jaw-dropping $2.44 billion private placement with around 50 institutional investors. These guys are gunning to build one of the biggest Bitcoin treasuries among publicly-traded U.S. companies. Talk about going big or going home!

Get this: they sold a whopping 55.8 million common shares at $25.72 a pop, raking in $1.44 billion. But wait, there's more! They also snagged $1 billion in 0% convertible senior secured notes due 2028, which can be converted at $34.72 per share. These folks aren't messing around.

They're set to pocket about $2.32 billion in net proceeds, and guess what? They're using it to go all-in on Bitcoin (BTC) and keep the lights on for their corporate operations. Crypto.com and Anchorage Digital are stepping up to handle custody for this massive Bitcoin treasury. It's about to get real!

Bitcoin and 'financial freedom'

Trump Media, the brains behind Truth Social, Truth+, and Truth.Fi, says this deal is pushing their liquid assets over the $3 billion mark. Cha-ching!

CEO Devin Nunes is calling this move a giant leap toward "financial freedom." It's all part of their crypto-first game plan and their grand vision for expanding in the "America First economy." These guys are on a mission!

And get this: this news comes hot on the heels of Trump Media's plans to team up with Crypto.com on some killer crypto-focused ETFs and financial services. They're not just dipping their toes; they're diving in headfirst!

By adding Bitcoin to their balance sheet, Trump Media is joining the ranks of companies like Strategy and GameStop, who are using debt and equity raises to stack up on crypto. It's like a crypto arms race out there!

The offering was led by the powerhouses at Yorkville Securities and Clear Street, with Cantor Fitzgerald stepping in as the financial advisor. Legal muscle was provided by Nelson Mullins for the company and Reed Smith for the placement agents. It's a full-court press!

DJT shares are popping on this news, clawing back some ground after a brutal 10% dip earlier in the week. But let's keep it real: the stock is still down over 36% year-to-date. It's a rollercoaster ride, but Trump Media is holding on tight and ready for more!