Trump Media Group raises $2.44 billion and will use $2.32 billion to establish Bitcoin reserves

BlockBeats News: On May 30th, the Trump Media Group announced today that it has completed its previously announced private placement with approximately 50 institutional investors. This issuance includes: ·Sell 55857181 shares of the company's common stock at a price of $25.72 per share, raising approximately $1.44 billion in gross proceeds; ·Issue convertible senior secured notes with a principal amount of $1 billion and maturity date of 2028, with a conversion price of $34.72 per share. The two projects raised a total of approximately 2.44 billion US dollars. Trump Media will use approximately $2.32 billion in net funds to establish Bitcoin reserves and use them for other general corporate purposes and working capital. As one of the largest Bitcoin reserve transactions among listed companies, the net funds and corporate strategy of this issuance will make Trump Media Group one of the largest holders of Bitcoin among listed companies in the United States. After this issuance, Bitcoin will be included in the balance sheet of the Trump Media Group, alongside cash, cash equivalents, and short-term investments totaling $759 million as of the end of the first quarter of 2025. (Golden Ten)