Trump Media & Technology Group plans to issue new shares worth $12 billion

ChainCatcher news, according to CoinDesk, the parent company of the social media platform Truth Social has submitted a registration application to the U.S. Securities and Exchange Commission (SEC), planning to issue up to 84,657,181 shares of common stock, with a total value of up to $12 billion, according to the latest S-3 filing.

Trump Media and Technology Group (stock code: DJT) registered with the SEC on Thursday to issue these new shares, aiming to expand its financing capabilities. Last week, the company just completed a $2.44 billion financing deal aimed at establishing a Bitcoin reserve treasury. Following this news, TMTG promptly submitted an application to the SEC to launch a Bitcoin exchange-traded fund (ETF), which will be similar to the 11 spot Bitcoin ETF products currently trading in the U.S.

DJT's stock price closed at $20.12 on Thursday, falling more than 8% that day due to news of a conflict between President Trump and Musk.