The Trump Media and Technology Group (TMTG), which is the owner of the Truth social platform of the company US President Donald Trump and partially owned by the President, has been approved to connect with the US Securities and Exchange Commission (SEC) for its registration statement.
According For SEC filing on 13 June, the agency filed a “effective” TMTG’s S-3 registration details-6 June-for the-Bitcin (BTC) Treasury Deal. S-3 is a form that American companies have used to register sales of various securities, such as stocks, options and different types of loans. TMTG filed a uniform final prospectus with SEC on the same day.
The CEO of Trump Media says the firm is expanding “aggressively”
SEC filing stated that, as part of its bitcoin Treasury Scheme, TMTG registered a resale of about 56 million shares and tied 29 million more than convertible notes as part of loan and equity agreements with about 50 investors, including $ 2.3 billion.
Although the registration details include a universal shelf to give “greater flexibility” to TMTG for future development plans, the company currently has “no immediate plan” to issue any securities under it.
“We are aggressively implementing our plans to expand the company, our offerings and our abilities,” said Trump Media CEO and President Dewin Nuns. Nuns said:
“By increasing and increasing our social media platforms, TV streaming platforms and our fintech brands while setting up bitcoin Treasury, we aim to continue to change Trump Media rapidly in an indispensable company to expand the customer base of the Patriot economy.”
On the same day, TMTG shares fell 2.06%, which shuts down the business day at $ 19.52, According For Google Finance Data.
The company comes after denying earlier reports of the deal a few weeks after the company confirmed a $ 2.5 billion increase to buy bitcoins on 27 May.
At that time, Nunes stated that Tmtg “sees bitcoin as a top means of financial freedom, and now Trump Media will conduct cryptocurrency as an important part of our property.”
TMTG recently filed a spot bitcoin ETF to launch
Blockchain analysis company Arkham said in an X post on 28 May, “Donald Trump’s company, Trump Media, will buy a $ 2.5 billion bitcoin. Are Trump about going to the salary mode?”
Connected: Bitcoin adoption, ‘Diglobalization,’ Trump’s ‘Big, Beautiful Bill’ fuel
Meanwhile, on 5 June, TMTG filed a bitcoin exchange-traded fund (ETF) with SEC.
TMTG said in a filing of June 5, “Trust’s assets mainly include bitcoin, which is organized by the trust by a custodian. The trust usually wants to reflect the performance of the price of bitcoin.”
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