coindesk.com
Trump Media and Technology Group (DJT), the publicly-traded company that operates the social media site Truth Social, announced on Tuesday a $2.5 billion capital raise to create a bitcoin
The company has entered into subscription agreement with about 50 institutional investors, issuing $1.5 billion in common stock and $1 billion in convertible senior secured notes, according to a press release. The offering is expected to close on May 29. Crypto.com and Anchorage Digital will provide custody services for the firm's $BTC holding.
The story was initially reported on Monday by the Financial Times.
DJT jumped more than 10% in premarket action, but has turned modestly lower in early regular session trading. Bitcoin is marginally higher, trading just above $110,000.