- TMTG aims to raise up to $12 billion through stock, debt, and convertible notes via multiple distribution channels.
- The firm previously raised $2.5 billion to acquire Bitcoin, now custodied by Anchorage Digital and Crypto.com.
- TMTG has not confirmed future BTC purchases, but current holdings remain part of its corporate balance sheet strategy.
Trump Media & Technology Group (TMTG) has filed to raise up to $12 billion through a broad securities offering. The company, which recently disclosed a significant Bitcoin acquisition, has not outlined a specific use for the upcoming funds. However, the recent fundraising and BTC purchases are drawing increased scrutiny as digital asset holdings rise in corporate portfolios.
Breakdown of Securities Offering and Sale Structure
According to the filing, TMTG plans to administer common stock, preferred stock, convertible notes, debt securities, warrants, rights, or units. The firm confirmed it would sell 84.6 million shares of its common stock priced at $0.0001 per share. However, most capital will be raised through private placement and convertible instruments.
In a structured transaction, TMTG will sell 55.8 million shares at $25.72 per share. These will go to institutional buyers and are expected to generate approximately $1.44 billion. Additionally, 28.8 million shares may be issued upon conversion of 0.00% senior notes maturing in 2028. These convertible instruments are valued at $1 billion.
The filing clarifies that proceeds from direct issuances will go to TMTG. However, it will not receive any revenue from shares sold by third-party securityholders. Sales may occur through various channels, including underwriters and placement agents.
Recent $2.5 Billion Bitcoin Strategy Execution
TMTG previously raised $3 billion, a portion of which was allocated to acquiring Bitcoin. Within 24 hours of that disclosure, the company confirmed it secured $2.5 billion. This capital raise combined $1.5 billion from stock sales and $1 billion in convertible notes, which were reportedly priced at a 35% premium.
The company purchased BTC and added it to its balance sheet. Custodians for the digital assets include Anchorage Digital and Crypto.com. The acquisition represents one of the larger corporate BTC holdings publicly disclosed in recent months.
Market Reactions and Ongoing Strategy
Though TMTG has not confirmed whether the newly announced $12 billion raise will involve additional BTC purchases, recent actions point to ongoing engagement with digital assets. The firm’s BTC holdings, following the $2.5 billion acquisition, remain active and securely held through regulated custodians.
The combination of equity offerings, convertible notes, and digital asset allocation comes amid increasing corporate participation in cryptocurrency markets. The current raise expands the firm’s capital flexibility and financial structure as it continues to explore additional uses of proceeds. The offering is subject to the filing of individual supplements, as the total amount raised and allocation strategy will become clearer upon regulatory approval and market execution.
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