Freight Technologies secures up to $20 million in convertible bond financing to purchase TRUMP tokens

ChainCatcher news, according to GlobeNewswire, Freight Technologies (Nasdaq: FRGT) announced that it has signed an agreement with an institutional investor to raise up to $20 million through convertible bonds for the purchase of the official Trump meme coin, TRUMP.

According to the financing agreement, Freight Technologies plans to issue convertible bond notes totaling $1 million in the first round of financing, with the possibility of an additional $19 million in funding under specific conditions.

It is reported that the company has previously purchased FET tokens worth approximately $8 million.