Trump Media and Technology Group (TMTG), which owns the Truth Social Platform for U.S. President Donald Trump, has been approved by the Securities and Exchange Commission (SEC) for connection with its $2.3 billion Bitcoin Treasury Agreement.
according to By the June 13 SEC submission, the agency “declared valid” TMTG’s S-3 registration statement, filed Bitcoin on June 6 (BTC) Ministry of Finance Agreement. S-3 is a form used by U.S. companies to register various securities (such as stocks, options and different types of debt). TMTG submitted the corresponding final prospectus to the SEC on the same day.
Trump Media CEO says the company is expanding “actively”
The SEC application said TMTG registered about 56 million shares of resale as part of its Bitcoin fiscal plan and tied to 29 million shares to convertible notes, generating $2.3 billion as part of a debt and equity agreement with about 50 investors.
Although the registration statement includes a universal shelf that can provide TMTG “more flexibility” for future growth plans, the company currently has “no immediate plan” to issue any securities under it.
“We are actively executing plans to expand the company, our products and our capabilities,” said Devin Nunes, CEO and President of Trump Media. Nunes added:
“By simultaneously enhancing and growing our social media platforms, TV streaming platforms and fintech brands while building the Bitcoin Treasury Department, our goal is to continue to quickly transform Trump media into an indispensable company to expand the client base of the Patriot economy.”
On the same day, TMTG’s share price fell 2.06%, ending the trading day at $19.52, according to Conduct Google-funded data.
It only appeared a few weeks after the company confirmed Purchase $2.5 billion in capital raising Bitcoin rejected an early report on the transaction on May 27.
At the time, Nunes said TMTG believed that “bitcoin is the highest tool for financial freedom and now the Trump media will use cryptocurrency as an important part of our assets.”
TMTG recently proposed launching live Bitcoin ETF
Blockchain analytics firm Arkham said in a May 28 post: “Donald Trump’s company, Trump media will buy $2.5 billion in Bitcoin. Is Trump going to Sailer mode?”
Related: Bitcoin adopts “demlobalization”, Trump’s “big and beautiful Bill”
Meanwhile, on June 5, TMTG submitted to the SEC Launching Bitcoin Exchange Traded Fund (ETF).
“The assets of the trust are mainly composed of Bitcoin held by the custodian on behalf of the trust. The trust funds attempt to reflect the performance of the Bitcoin price in general,” TMTG said in a June 5 filing.
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