The post Trump Media Execs Launch SPAC to Raise $179M Targeting Crypto & Tech appeared first on Coinpedia Fintech News
Three senior leaders at Trump Media & Technology Group have launched a new blank-check company, aiming to acquire a firm in the crypto or related industries. This move comes as the Trump administration looks to influence the sector, according to a registration statement filed with the SEC on Friday.
Renatus Tactical Acquisition Corp I, a special purpose acquisition company (SPAC) based in the Cayman Islands, aims to raise at least $179 million through an IPO and private placement. The $179 million fundraising target reflects TMTG’s confidence in the crypto and defense sectors. The funds will be used to acquire companies with strong growth potential and innovative solutions.
Renatus Tactical is looking to acquire companies in crypto, blockchain, data security, and dual-use tech—sectors with significant government oversight, as noted in its SEC filing. With Trump appointees in charge of the SEC, DOJ, and FTC, these agencies will oversee the merger process.
Strong Ties To Trump Media
The company’s leadership has strong ties to Trump Media: CEO Eric Swider is a board member of Trump Media, Devin Nunes, Trump Media’s CEO, chairs Renatus Tactical’s board, and COO Alexander Cano was president and secretary of the firm that merged with Trump Media.
Renatus Tactical plans to raise $178.9 million by offering 17.5 million shares at $10 each and 3.94 million warrants at $1 in a private placement. While focusing on crypto, blockchain, and data security, it can pursue acquisitions in any industry.
In its SEC filing, Renatus Tactical notes that the current administration has taken significant steps to integrate digital assets into the national financial strategy. Trump’s connection to the founders of Renatus Tactical may not be entirely beneficial for the company. The company acknowledges challenges due to its Trump ties, warning that some parties may avoid working with them because of the connection.
