11:34 AM EDT, 05/27/2025 (MT Newswires) -- (Updates with recent stock movement in the headline and first paragraph.)

Trump Media & Technology Group ( DJT ) shares were down more than 11% in recent Tuesday trading after the company said it was launching a $2.5 billion offering of common shares and convertible notes.

The company said it signed subscription agreements with about 50 institutional investors to issue and sell roughly $1.5 billion of its common shares and $1 billion of 0% convertible senior secured notes, for gross proceeds of about $2.5 billion, in a private placement offering.

Proceeds will be used to create a bitcoin treasury, the company said.

The offering is expected to close on or about Thursday.

Price: 22.81, Change: -2.92, Percent Change: -11.33