Trump Media & Technology Group (TMTG) has filed a Form S-3 with the US Securities and Exchange Commission (SEC) on Thursday for its massive $2.3 billion Bitcoin treasury deal.
The filing is tied to recent debt and equity agreements with 50 investors. The registration statement relates to 56 million shares of equity and 29 million shares related to convertible notes.
“These activities will provide the Company with the capital, assets, independence, flexibility, and security we need to fulfill our goals of rapid expansion, guaranteeing a wide array of ways to access the capital markets when it’s most advantageous to do so,” he said.
The fund will be used to acquire Bitcoin and for general corporate purposes, an official release noted. However, the company has not disclosed how much Bitcoin it plans to purchase.
Bitcoin Treasury Push: CEO Says Company Aims to Acquire “Crown Jewel Assets”
The funds will combine exposure to digital assets with investments in U.S.-focused sectors such as energy, the company said in April. If approved, the Truth Social Bitcoin ETF will have Crypto.com as its exclusive custodian and liquidity provider. The ETF would join the increasing number of crypto-related products that are waiting to get approval from the regulator.
TMTG, the media group behind Trump’s Truth Social, has already signed a deal with Crypto.com and Yorkville America Digital to launch a suite of exchange-traded funds under the Truth.Fi brand.