Trump Media Raises $2.44 Billion for Bitcoin Treasury Plan

Trump Media & Technology Group Corp., the company behind Truth Social, raised around $1.44 billion from selling stock at a price of $25.72 per share and raised about $1 billion in convertible bonds, to buy 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 Bitcoin treasury. The company joins PSQ Holdings, another firm linked ...