Trump Media and Technology Group (TMTG), the company that owns US President Donald Trump’s Truth Social platform and is partially owned by the president, has received approval from the US Securities and Exchange Commission (SEC) for its registration statement tied to its $2.3 billion Bitcoin treasury deal.
According to a June 13 SEC filing, the agency “declared effective” TMTG’s S-3 registration statement — filed on June 6 — for the Bitcoin (BTC) treasury deal. The S-3 is a form that US companies use to register the sale of various securities, like stocks, options, and different types of debt. TMTG filed a corresponding final prospectus with the SEC on the same day.
Trump Media’s CEO says the firm is “aggressively” expanding
The SEC filing said that, as part of its Bitcoin treasury plan, TMTG registered the resale of approximately 56 million shares and 29 million more tied to convertible notes as part of debt and equity agreements with around 50 investors, which yielded $2.3 billion.
Although the registration statement includes a universal shelf to give TMTG “greater flexibility” for future growth plans, the company currently has “no immediate plans” to issue any securities under it.
Trump Media’s CEO and President Devin Nunes said, “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.”
On the same day, TMTG’s stock price fell 2.06%, closing the trading day at $19.52, according to Google Finance data.
It comes only weeks after the company confirmed a $2.5 billion capital raise to purchase Bitcoin on May 27 after denying earlier reports of the deal.
At the time, Nunes said that TMTG views “Bitcoin as an apex instrument of financial freedom, and now Trump Media will hold cryptocurrency as a crucial part of our assets.”
TMTG recently filed to launch a spot Bitcoin ETF
Blockchain analysis company Arkham said in a May 28 X post, “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’
Meanwhile, on June 5, TMTG filed with the 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 said in a June 5 filing.
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