ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/trump-media” target=”_blank”>Trump Media & Technology Group Corp., the company behind ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/truth-social” target=”_blank”>Truth Social, raised around $1.44 billion from selling stock at a price of $25.72 per share and raised about $1 billion in ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/convertible-bonds” target=”_blank”>convertible bonds, to buy ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” target=”_blank” href=”https://economictimes.indiatimes.com/news/bitcoin”>Bitcoin for its treasury.
The company’s shares rose as much as 7.6% on Friday after it announced the pricing. They were up 2.9% to $21.43 each as of 12:30 p.m. in New York on Friday.
Trump Media plans to use the $2.32 billion in net proceeds from the offering for purposes including creating a ref=”dofollow” data-ga-onclick=”Inarticle articleshow link click#Tech#href” href=”https://economictimes.indiatimes.com/topic/bitcoin-treasury” target=”_blank”>Bitcoin treasury. The company joins PSQ Holdings,…
