Overview
- The boards approved an all-stock merger valuing the combined company at just over $6 billion, with each side expected to own roughly 50% and closing targeted for mid-2026 pending shareholder and regulatory sign-off.
- The companies say they plan to pick a site and start building a utility-scale fusion power plant in 2026, with TAE later telling investors it is eyeing 2031 for initial electricity output.
- Trump Media committed up to $200 million in cash at signing for TAE, with an additional $100 million available upon the initial SEC filing of merger documents.
- Devin Nunes and TAE’s Michl Binderbauer will serve as co-CEOs, and the combined company’s board will include Donald Trump Jr., with Michael Schwab expected to chair.
- Shares of Trump Media jumped roughly 20%–35% on the announcement after steep losses this year, as analysts flagged likely political and conflict-of-interest scrutiny given the president’s large stake and fusion’s need for government interaction.