Truth Social father or mother company Trump Media & Technology Group introduced a deal on Thursday to merge with nuclear fusion company TAE Technologies.
The surprise merger drove shares of Trump Media 17% larger in premarket buying and selling.
The firms stated the all-stock transaction is valued at greater than $6 billion and can create one of many first publicly traded fusion firms.
After the deal closes, shareholders of Trump Media and TAE would personal about 50% of the mixed entity.
The information comes as Trump Media’s share price has plunged this year. Truth Social has struggled to achieve traction, remaining a far smaller participant than rival social media platforms.
Trump Media has introduced efforts to diversify into synthetic intelligence, crypto and asset administration.
This is a creating story and will probably be up to date.