Trump Media & Technology will merge with a fusion power company in an all-stock deal that the companies said Thursday is valued at more than $6 billion.
Devin Nunes, the Republican congressman who resigned in 2021 to become the CEO of Trump Media, will be co-CEO of the new company with TAE Technologies CEO Michl Binderbauer.
“We’re taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations,” Nunes said in a prepared statement.
TAE and Trump Media shareholders will each own approximately 50% of the combined company.
Trump is by far the largest stakeholder in Trump Media, owning 41% of all outstanding shares.
TAE and Trump Media say the transaction values each TAE common stock at $53.89 per share.
At closing, Trump Media & Technology Group will be the holding company for Truth Social and TAE, along with its subsidiaries TAE Power Solutions and TAE Life Sciences.
