Trump Media & Technology Group Corp. (Nasdaq, NYSE Texas: DJT) announced Monday that its Board of Directors has authorized a share repurchase program of up to $400 million, targeting common stock and warrants through open market transactions.
The repurchased shares will be retired, with timing and volume left to the discretion of the company, in accordance with Securities and Exchange Commission rules.
“The Board took a vote of confidence in our Company, our stock, and our strategic plans,” said CEO and Chairman Devin Nunes. “Since Trump Media now has approximately $3 billion on its balance sheet, we have the flexibility to take actions like this which support strong shareholder returns, as we continue exploring further strategic opportunities.”
The authorization will be funded independently of the company’s existing Bitcoin treasury strategy, which involves a previously announced $2.3 billion private placement offering.
In addition to stock and warrant repurchases, Trump Media may also consider repurchasing outstanding convertible notes in open-market or privately negotiated transactions.
Trump Media operates the social platform Truth Social, the streaming service Truth+, and the financial technology brand Truth.Fi. The company describes its mission as countering censorship by Big Tech and supporting free expression.
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