Trump Media execs launch SPAC to raise $179M for crypto, tech

Three senior executives from Trump Media & Technology Group launched Renatus Tactical Acquisition Corp I, a special acquisition company for Cayman Islands.

The company aims to collect around $ 179 million to acquire companies in cryptocurrency, blockchain, data safety and double-use technology. According to a Forbes report Published on March 20, Renatus Tactical Leadership has close links with Trump Media.

CEO Eric Swider is a member of the board of directors of Trump Media and previously managed the company that merged with it. Devin Nunes, CEO of Trump Media, chairs the Board of Directors of Renatus Tactical, while the chief of operation Alexander Cano was also involved in the merger of Trump Media.

Renatus Tactical has planned to raise $ 178.9 million by selling $ 17.5 million to $ 10 each in a public call for public. In addition, it will offer 3.94 million mandates at $ 1 each thanks to a private placement.

The company aims at industries with strong government surveillance, a factor that could be influenced by Trump-appointed The regulators of the Securities and Exchange Commission, the Ministry of Justice and the Federal Commerce Commission.

The registration of the company of the company deposit Note that digital assets have become a larger part of the national financial strategy, hence the emphasis on cryptocurrency and blockchain investments. However, he also admitted that some companies could hesitate to work with the company because of its links with Trump Media and Trump.

Renatus Tactical is now faced with the challenge of guaranteeing investors’ confidence while managing political and regulatory concerns. This launch coincides with Trump’s growing participation in the cryptography sector.

On March 13, his World Liberty Financial Project announced that he had raised $ 250 million during his second sale of tokens, bringing a total sales $ 550 million since their launch last October. Reports suggest that the Trump family could receive up to 75% of net income.