The Trump Media and Technology Group (TMTG), the company owned by the US President Donald Trump’s truth social platform and the president’s partial ownership, received approved from the US Securities and Exchange Commission (SEC) for its registration statement tied to $ 2.3 billion deal with Treasury Deal.
According to In a filing of June 13 SEC, the agency “announced effective” TMTG registration statement-filed in June 6-for Bitcoin (Btc) Treasury Deal. The S-3 is a form used by US companies to register the sale of various security, such as stocks, options, and different types of debt. TMTG has filed a corresponding final prospectus on the SEC on the same day.
The CEO of Trump Media says the firm is “aggressive” expanding
The SEC filing that, as part of the Bitcoin Treasury plan, TMTG registered the resignation of approximately 56 million shares and 29 million more tied to the changing notes as part of debt and equity agreements with nearly 50 investors, which resulted in $ 2.3 billion.
Although the registration statement includes a universal shelf to provide TMTG’s “greater flexibility” for future growth plans, the company is currently no “immediate plans” to issue any security under it.
The CEO of Trump Media and President Devin Nunes said, “We are 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 Treasury of Bitcoin, we aim to quickly change Trump Media to a necessary company for expanding the customer’s base of Patriot Economy.”
On the same day, the TMTG stock price fell to 2.06%, closing trading day at $ 19.52, According to In Google Finance data.
This will come only weeks after the company confirms a $ 2.5 billion increasing capital to buy Bitcoin on May 27 after rejecting earlier deal reports.
At this time, Nunes said the TMTG viewed “Bitcoin as an Apex instrument of financial freedom, and now Trump’s media will hold cryptocurrency as an integral part of our property.”
TMTG recently filed to launch a Bitcoin ETF area
The blockchain review company Arkham said in a post of May 28 X, “Donald Trump’s company, Trump Media, will buy $ 2.5 billion of Bitcoin. Is Trump close to Saylor Mode?”
Related: Bitcoin’s adoption that -Fuel by ‘Deglobalization,’ Big, Beaf, Beaf, Be This Bill ‘
Meanwhile, on June 5, TMTG filed with the SEC To launch a bitcoin exchange-traded fund (ETF).
“Trust owners are especially made up of Bitcoin held by a caregiver for the name of trust. Trust aims to generally show the performance of bitcoin prices,” TMTG said in a filing of June 5.
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