On June 6, the parent company of social media platform Truth Social filed a registration application with the U.S. Securities and Exchange Commission (SEC) to issue up to 84,657,181 shares of common stock with an aggregate value of up to $12 billion, according to the latest S-3 filing. Trump Media and Technology Group (Ticker: DJT) registered with the SEC on Thursday to issue the new shares in an effort to expand its ability to raise capital. Last week, the company just closed a $2.44 billion financing deal aimed at building a Bitcoin reserve vault. Immediately following this announcement, TMTG filed an application with the SEC to launch a Bitcoin exchange-traded fund (ETF) that would be similar to the 11 spot Bitcoin ETFs currently traded in the United States. DJT shares closed at $20.12 on Thursday, down more than 8% on news of President Trump’s conflict with Elon Musk.
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Trump Media Group plans to issue new shares worth 12 billion dollars.
On June 6, the parent company of social media platform Truth Social filed a registration application with the U.S. Securities and Exchange Commission (SEC) to issue up to 84,657,181 shares of common stock with an aggregate value of up to $12 billion, according to the latest S-3 filing. Trump Media and Technology Group (Ticker: DJT) registered with the SEC on Thursday to issue the new shares in an effort to expand its ability to raise capital. Last week, the company just closed a $2.44 billion financing deal aimed at building a Bitcoin reserve vault. Immediately following this announcement, TMTG filed an application with the SEC to launch a Bitcoin exchange-traded fund (ETF) that would be similar to the 11 spot Bitcoin ETFs currently traded in the United States. DJT shares closed at $20.12 on Thursday, down more than 8% on news of President Trump’s conflict with Elon Musk.