Trump Media and Technology Group (DJT), the social Truth operator, said Friday that he has closed a fund collection agreement of $ 2.44 billion to establish a bitcoin
treasury.
DJT’s actions erased early losses in the morning and increased 5.6% on the day following the news.
The company sold almost 56 million shares at $ 25.72 each and issued $ 1 billion in 0% convertible notes in 2028, according to a press release. About 50 institutional investors signed to the offer. The placement was directed by Yorkville Securities and Clear Street, with singer Fitzgerald as financial advisor.
The firm said it will direct the net income of $ 2.32 billion to buy BTC for its treasure, with Crypto.com and digital anchorage that provide custody services.
The measure adds to the company to a growing list of companies that are quoted in the stock market that have raised capital to add cryptographic assets such as Bitcoin to their balance, a pioneer play book for Michael Saylor’s strategy (Mstr). The software firm has become the world’s largest owner of the world of leading cryptographic asset, accumulating more than $ 60 billion in BTC by financing purchases through a combination of capital and debt emissions.
Trump Media shared plans at the beginning of this year to launch a financial services platform focused on cryptography and personalized funds quoted in the stock market. He also said he wants to partner with Crypto Exchange Crypto.com to launch ETF products.
