Trump Media closes $2.44B capital raise; to create Bitcoin treasury with net proceeds ~$2.32B

Trump Media & Technology Group Corp.

Sold 55,857,181 shares at $25.72 for $1.44B and $1.0B zero-coupon convertible notes due 2028 at $34.72 conversion price.
Net proceeds of ~$2.32B to be used to build a Bitcoin treasury; company also has $759M in existing cash/cash equivalents.
Bitcoin custody via Crypto.com and Anchorage Digital; aims to become top U.S. public Bitcoin holder.
Notes convertible at $34.72 (~135% premium to May 27 close); holders can require repurchase on Nov 30, 2026.

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