The US Securities and Exchange Commission has approved the registration statement for the $2.3 billion Bitcoin treasury.
According In a filing to the SEC dated 13 June, the agency “declared effective” TMTG’s S-3 registration statement — filed on June 6 — for the Bitcoin (BTCTreasury Deal. S-3, or Securities Registration Form, is the form used by US companies to report sales of different securities like options, stocks and debt. TMTG submitted a corresponding prospectus to the SEC the same day.
Trump Media CEO Donald Trump says that the company is “aggressively” Expanding the mind:
In its SEC filing, TMTG stated that as part of its Bitcoin treasury, it registered the resale and conversion of around 56 million shares as well as 29 million convertible notes in debt and equity contracts with approximately 50 investors. The agreement yielded a total of $2.3 billion.
The registration statement does include a shelf that is universal to allow TMTG “greater flexibility” The company has a number of growth strategies in place. “no immediate plans” It is not possible to sell any securities.
Devin Nunes is the President and CEO of Trump Media. “We’re aggressively implementing our plans to expand the Company, our offerings, and our capabilities.” Nunes added
“By simultaneously enhancing and growing our social media platform, TV streaming platform, and our fintech brand while establishing a Bitcoin treasury, we aim to continue rapidly transforming Trump Media into an indispensable company for the expanding customer base of the Patriot Economy.”
TMTG stock closed the day with a price of $19.52, a drop of 2.06%. according Google Finance Data
The company has confirmed that it will be announcing a new product in the next few weeks. $2.5 billion capital raise to purchase Bitcoin was announced on 27 May after earlier reports of the transaction were denied.
Nunes claimed that TMTG was a view at the time. “Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets.”
TMTG filed a recent application to launch a Bitcoin spot ETF
Arkham, a blockchain analysis company, said this in an X article published on May 28. “Donald Trump’s company, Trump Media, will buy $2.5 BILLION of Bitcoin. Is Trump about to go Saylor Mode?”
Related: Bitcoin adoption fueled by ‘deglobalization,’ Trump’s ‘big, beautiful bill’
On June 5, TMTG also filed with SEC. to launch a Bitcoin exchange-traded fund (ETF).
“The assets of the Trust consist primarily of Bitcoin held by a custodian on behalf of the Trust. The Trust seeks to reflect generally the performance of the price of Bitcoin,” TMTG reported in a 5 June filing.
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Source: cointelegraph.com
