The report cited six people briefed on the transaction, who said the company intends to sell about $2 billion in new equity and another $1 billion of convertible bonds.
People involved in the discussions said that if TMTG completes the offering at the targeted size, it would immediately deploy roughly half the proceeds to buy Bitcoin and allocate the remainder opportunistically.
TMTG will structure the equity portion as an at-the-market sale, placing shares near the May 23 close of $25.72, which valued the media group at nearly $6 billion.
People familiar with the negotiations told the report that Brokers ClearStreet and BTIG are in talks to underwrite the deal.
In a statement, TMTG rejected the report’s sourcing as “dumb” but offered no additional comment, while representatives for Donald Trump Jr. and the White House declined to respond.
Furthermore, the President hosted a private dinner for the top holders of his memecoin at his resort outside Washington last week.
