crypto.news 2025-03-20 05:45:28

Trump Media executives launch SPAC to raise $179m for crypto and tech sectors

Three senior executives from the Trump Media & Technology Group have launched Renatus Tactical Acquisition Corp I, a Cayman Islands-registerd special purpose acquisition company. The firm aims to raise about $179 million to acquire businesses in cryptocurrency, blockchain, data security, and dual-use technology. According to a Forbes report published on Mar. 20, Renatus Tactical’s leadership has close ties to Trump Media. CEO Eric Swider is a Trump Media board member and previously led the firm that merged with it. Devin Nunes, Trump Media’s CEO, chairs Renatus Tactical’s board, while COO Alexander Cano was also involved in the Trump Media merger. Renatus Tactical has planned to raise $178.9 million by selling 17.5 million shares at $10 each in an initial public offering. Additionally, it will offer 3.94 million warrants at $1 each through a private placement. The company is targeting industries with strong government oversight, a factor that could be influenced by Trump- appointed regulators at the Securities and Exchange Commission, Department of Justice, and Federal Trade Commission. You might also like: Trump-era policy shift sparks crypto firms’ push for banking licenses: report The company’s SEC registration filing noted that digital assets have become a bigger part of the national financial strategy, hence its focus on cryptocurrency and blockchain investments. However, it also acknowledged that some businesses might be reluctant to work with the company because of its ties to Trump Media and Trump. Renatus Tactical now faces the challenge of securing investor confidence while managing political and regulatory concerns. This launch coincides with Trump’s growing involvement in the crypto sector. On Mar. 13, his World Liberty Financial project announced it had raised $250 million in its second token sale, bringing total sales to $550 million since launching last October. Reports suggest that the Trump family could receive up to 75% of net revenue. Read more: ‘The SEC was the market manipulator’: SEC drops case against XRP, CEO claims