Trump Media Group reverses stance, confirms $2.5B Bitcoin capital raise
Trump Media spokespeople denied news of the deal a day earlier, before confirming the capital raise in a May 27 announcement.
Trump Media and Technology Group (TMTG), the company that owns US President Donald Trump’s Truth Social platform and is partially owned by the president, confirmed a $2.5 billion capital raise to purchase Bitcoin (BTC) after denying earlier reports of the deal.
According to a May 27 announcement from the company, the capital raise comprises a $1.5 billion stock sale and $1 billion in convertible senior secured bonds, with a 0% coupon. The sale is expected to close on May 29. TMTG CEO Devin Nunes said:
TMTG spokespeople responded to the initial report from the Financial Times, published a day before the announcement, with derision.