Trump Media Group completes $2.44 billion financing and will use $2.32 billion to establish a Bitcoin reserve.

On May 30, the Trump Media Group announced today that it has completed its previously announced private placement with approximately 50 institutional investors. The offering comprises:· Sale of 55,857,181 shares of the Company's common stock at a price of $25.72 per share, raising gross proceeds of approximately $1.44 billion; Offering of US$1.0 billion principal amount of convertible senior secured notes due 2028 at a conversion price of US$34.72 per share. Together, the two raised approximately $2.44 billion. The Trump media will use about $2.32 billion of net funds to build a Bitcoin reserve and use it for other general corporate purposes and working capital. As one of the largest bitcoin reserve deals among publicly traded companies, the net proceeds and corporate strategy of the offering will make Trump Media Group one of the largest bitcoin holdings among publicly traded companies in the United States. Following the offering, Bitcoin will be added to the Trump Media Group's balance sheet, alongside a total of $759 million in cash, cash equivalents and short-term investments by the end of the first quarter of 2025. ( gold ten )