Trump Media & Technology Group Stock Price Increase Expands to 5.32%

BlockBeats News, May 31st, the stock price of Trump Media & Technology Group has expanded its gain to 5.32%.

Trump Media Group announced today that it has completed the previously announced private placement with about 50 institutional investors. The offering includes:

· Sale of 55,857,181 shares of common stock of the company at a price of $25.72 per share, raising approximately $1.44 billion in gross proceeds;

· Issuance of $1 billion principal amount of 2028 convertible senior secured notes with a conversion price of $34.72 per share.

The two offerings together raised approximately $2.44 billion. Trump Media will use approximately $2.32 billion of net proceeds to establish a Bitcoin reserve and for other general corporate purposes and working capital.