Trump Media Group completes $2.44 billion financing, becoming the largest holder of bitcoin in listed companies

Trump Media Group announced today that it has completed its previously announced private placement with approximately 50 institutional investors. The offering includes: ① the sale of 55,857,181 shares of the company's common stock at $25.72 per share, raising approximately $1.44 billion in gross capital; ② the issuance of $1 billion in principal and convertible senior secured notes due 2028 at a conversion price of $34.72 per share. The two items together raise approximately $2.44 billion. Trump Media will use approximately $2.32 billion of net funds to build bitcoin reserves and use them for other general corporate purposes and Working Funds. As one of the largest bitcoin reserve transactions among publicly traded companies, the net funding and corporate strategy of this offering will make Trump Media Group one of the largest bitcoin holdings among publicly traded companies in the United States. Following this offering, bitcoin will be added to Trump Media Group's balance sheet, alongside $759 million in cash, cash equivalents and short-term investments as of the end of Quarter 1, 2025.