Odaily Planet Daily News Trump Media Technology Group announced that it has reached a subscription agreement with approximately 50 institutional investors to conduct a private placement of approximately US$2.5 billion.
The offering includes approximately US$1.5 billion in common stock and US$1 billion in 0.00% convertible senior secured notes, and the proceeds are intended to be used to create a Bitcoin vault.
The company will use Crypto.com and Anchorage Digital to custody its Bitcoin funds, and the offering is expected to be completed around May 29, 2025.