"The company will merge with TAE Technologies-a privately held fusion energy firm that's backed by Alphabet, Chevron Technology Ventures, and others-in a deal that's worth more than $6 billion. It's an all-stock deal, which is expected to close sometime next year, and is a huge and eyebrow-raising move for Trump Media, which is best known as the owner of President Trump's social media platform, Truth Social."
"When all is said and done, shareholders of both companies will "own approximately 50% of the combined company on a fully diluted equity basis," per the company release. Following the announcement, DJT shares jumped nearly 30% during premarket trading. The stock was up almost 35% in early trading on Thursday as of this writing. However, shares are down nearly 70% year to date, and are down roughly 92% from their peak in March 2022."
Trump Media and Technology Group will merge with privately held TAE Technologies in an all-stock transaction valued at more than $6 billion, expected to close next year. Shareholders of both companies will own approximately 50% of the combined company on a fully diluted basis. DJT shares surged nearly 30–35% in early trading after the announcement, despite a roughly 70% year-to-date decline and about a 92% drop from the March 2022 peak. The combined company plans to develop utility-scale fusion power plants beginning with a 50 MWe plant sited and under construction in 2026, with future 350–500 MWe plants intended to supply abundant, dependable electricity to support AI expansion.
Read at Fast Company
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