Three senior executives from Trump Media & Technology Group have founded Renatus Tactical Acquisition Corp I, a special purpose acquisition company (SPAC) registered in the Cayman Islands.
The company plans to raise around $179 million to acquire businesses in cryptocurrency, blockchain, data security, and dual-use technology. A Forbes report notes significant connections between the leadership of Renatus Tactical and Trump Media.
Renatus Tactical Acquisition Corp I is led by CEO Eric Swider, a board member of Trump Media who was involved in its merger. The board chair is Devin Nunes, the CEO of Trump Media, and COO Alexander Cano also contributed significantly to the merger. The leadership highlights the close connections between Renatus Tactical and Trump Media.
The company plans to raise $178.9 million to finance its business acquisitions through an initial public offering (IPO). The company aims to sell 17.5 million shares at $10 each. Additionally, it intends to offer 3.94 million warrants at $1 each through a private placement.
The firm is targeting industries that are subject to stringent government oversight, potentially influenced by Trump-appointed regulators at the Securities and Exchange Commission (SEC), Department of Justice (DOJ), and Federal Trade Commission (FTC), according to Forbes.
Renatus Tactical’s SEC registration filing emphasizes that digital assets are becoming an increasingly important aspect of the national financial strategy, prompting the company’s focus on cryptocurrency and blockchain investments. However, the filing also acknowledges that some businesses might hesitate to engage with the company due to its association with Trump Media and President Trump. This presents a unique challenge for Renatus Tactical as it seeks to secure investor confidence while navigating political and regulatory concerns.
In a related development, another Trump-linked project, World Liberty Financial, raised $250 million in its second token sale on March 13, totalling $550 million since its launch in October. Reports suggest the Trump family could receive up to 75% of the project’s net revenue.
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