Overview

• The board approved up to $400 million in open-market repurchases of common shares and warrants, with all retired upon buyback
• Last month’s $2.5 billion financing comprised $1.5 billion in equity and $1 billion in convertible notes earmarked for bitcoin acquisitions
• Anchorage Digital and Crypto.com will custody the purchased bitcoin, which CEO Devin Nunes called the company’s “crown jewel”
• Nunes said the bitcoin strategy is intended to guard against what he described as financial institutions discriminating against conservative businesses
• Despite a $400.9 million net loss on $3.6 million in revenue last year, Trump Media plans Trump-branded ETFs and other crypto products pending regulatory approval