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Trump Media, Owner of Truth Social, Looks to Issue $12B Worth of New Shares
The parent company of social media platform Truth Social registered with the SEC to issue up 84,657,181 shares of Common Stock
What to know:
- President Donald Trump's media company has registered up to $12 billion in securities
- The company last week closed a $2.44 billion fundraising deal to establish a bitcoin treasury and subsequently registered to list a bitcoin ETF.
President Donald Trump's media company has registered up to $12 billion in new securities, according to a new S-3 filing.
Trump Media and Technology Group (DJT), parent company of social media platform Truth Social, registered with the U.S. Securities and Exchange Commission (SEC) to issue up 84,657,181 shares of Common Stock on Thursday.
STORY CONTINUES BELOW
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The company last week closed a $2.44 billion fundraising deal to establish a bitcoin treasury. This announcement was followed by TMTG filing paperwork with the SEC to list a bitcoin exchange-traded fund (ETF), similar to existing 11 spot BTC products that trade in the U.S.
DJT shares closed at $20.12 on Thursday, over 8% lower on the day following news of the President's spat with Elon Musk.
Jamie Crawley
Jamie has been part of CoinDesk's news team since February 2021, focusing on breaking news, Bitcoin tech and protocols and crypto VC. He holds BTC, ETH and DOGE.
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