US Stock Market Move | Announcement of completion of $2.44 billion financing, Trump Media & Technology Group (DJT.US) surges over 6.5%.

On Friday, the stock price of Trump Media & Technology Group (DJT.US) rose, with the stock up over 6.5% to $22.23 at the time of writing. In terms of news, Trump Media Group announced today that they have completed a private placement with around 50 institutional investors as previously disclosed. This placement includes: 1) the sale of 55,857,181 shares of common stock at a price of $25.72 per share, raising approximately $1.4 billion in gross proceeds; 2) the issuance of $1 billion in principal amount of 2028 convertible senior secured notes with a conversion price of $34.72 per share. The total fundraising amounts to approximately $2.44 billion. Trump Media will use around $2.32 billion of the net proceeds to establish a Bitcoin reserve and for other general corporate purposes and working capital. As one of the largest Bitcoin reserve transactions by a publicly traded company, the net proceeds from this offering and company strategy will make Trump Media Group one of the companies holding the most Bitcoin among publicly traded companies in the US. Following this offering, Bitcoin will be included in Trump Media Group's balance sheet, alongside the total cash, cash equivalents, and short-term investments of $759 million as of the end of the first quarter of 2025.