Tech
Trump Media raises $2.44 billion for Bitcoin treasury plan
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Trump Media & Technology Group Corp., the company behind Truth Social, raised around $1.44 billion from selling stock at a price of $25.72 per share and raised about $1 billion in convertible bonds, to buy Bitcoin for its treasury.
The company’s shares rose as much as 7.6% on Friday after it announced the pricing. They were up 2.9% to $21.43 each as of 12:30 p.m. in New York on Friday.
Trump Media plans to use the $2.32 billion in net proceeds from the offering for purposes including creating a Bitcoin treasury. The company joins PSQ Holdings,…
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