Shares of Trump Media & Technology Group Corp. ( DJT ) are trading higher Friday after company closed a $2.44 billion private placement with institutional investors.

What To Know: The offering includes both common stock and zero-percent convertible senior secured notes due in 2028.

The company plans to use the $2.32 billion in net proceeds to establish a Bitcoin treasury, making it one of the largest Bitcoin-holding public companies in the U.S. Trump Media's ( DJT ) strategy includes holding Bitcoin as part of its balance sheet alongside existing cash and short-term investments.

CEO Devin Nunes said the capital infusion will provide the financial flexibility needed to support the company's broader expansion goals, including its digital media, fintech, and streaming businesses.

The announcement has added short-term momentum to DJT shares amid broader interest in corporate Bitcoin adoption.

DJT Price Action: Trump Media ( DJT ) shares were up 2.35% at $21.32 at the time of writing, according to Benzinga Pro.

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