Under the terms, TMTG will issue roughly $1.5 billion in common stock and $1 billion in zero-coupon convertible notes.
The fundraising round involves commitments from nearly 50 institutional investors and is expected to close by May 29, pending standard conditions.
He said:
“This investment will help defend our Company against harassment and discrimination by financial institutions, which plague many Americans and US firms.”
The company’s balance sheet already has approximately $759 million in various assets, including cash, cash equivalents, and short-term investments.
Nunes explained that the Bitcoin reserve move aligns with the firm’s broader crypto plans, saying:
“[This] will create synergies for subscription payments, a utility token, and other planned transactions across Truth Social and Truth+. It’s a big step forward in the Company’s plans to evolve into a holding company by acquiring additional profit-generating, crown jewel assets consistent with America First principles.”
