Truth Social Parent Company Files for Major Stock Offering

According to BlockBeats, the parent company of social media platform Truth Social has filed a registration application with the U.S. Securities and Exchange Commission (SEC) to issue up to 84,657,181 shares of common stock, valued at up to $12 billion. The filing, detailed in the latest S-3 document, was submitted by Trump Media and Technology Group (TMTG), listed under the stock symbol DJT, on Thursday. The company aims to enhance its financing capabilities through this new stock issuance. This move follows a recent $2.44 billion financing deal completed last week, which was intended to establish a Bitcoin reserve. Following this announcement, TMTG also filed an application with the SEC to launch a Bitcoin exchange-traded fund (ETF), which will be similar to the 11 spot Bitcoin ETF products currently traded in the United States. On Thursday, DJT's stock closed at $20.12, experiencing a decline of over 8% due to news of a conflict between U.S. President Donald Trump and Elon Musk.