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Trump Media Technology Group files S-3 with SEC, plans to raise $2.3 billion to purchase Bitcoin.
The Trump Media Technology Group (TMTG) filed an S-3 filing with the U.S. Securities and Exchange Commission (SEC) on Thursday for its $2.3 billion Bitcoin financial transaction, according to Gate News bot.
The application relates to a debt and equity agreement recently reached with 50 investors. The registration statement involves 56 million shares of common stock and 29 million convertible bonds.
The official press release stated that the fund will be used for the acquisition of Bitcoin and general corporate purposes. However, the company has not disclosed the amount of Bitcoin it plans to acquire.
In addition, the application documents also include a general suspension clause that provides flexibility for future mergers, financing, and other initiatives.
TMTG CEO Devin Nunes stated that the company is exploring all the elements needed for its growth and plans, including the acquisition of "crown jewel assets."
He pointed out: "These activities will provide the capital, assets, independence, flexibility, and security necessary for the company to achieve its rapid expansion goals, and ensure entry into the capital markets through various avenues under the most favorable circumstances."
Source: Cryptonews