Trump Media & Technology Group Spin-Off Creates New Blank-Check Company Targeting Crypto and Defense Acquisitions

As per a latest report from Forbes, three senior leaders at Trump Media & Technology Group have launched a new blank-check company, aiming to acquire a firm in the crypto or related industries.

Three senior leaders from Trump Media & Technology Group have launched a new blank-check company to acquire a firm in crypto or related industries, aiming to capitalize on the Trump administration’s interest in the sector, according to a registration statement filed with the SEC on Friday.

SPAC to Raise $179M for Crypto & Defense Acquisitions

The special purpose acquisition company, Renatus Tactical Acquisition Corp I, is based in the Cayman Islands and plans to list on the Nasdaq Stock Market under the ticker "RTACU." It is targeting a minimum fundraising goal of $179 million through an IPO and private placement.

The $179 million fundraising target reflects TMTG’s confidence in the crypto and defense sectors, and the funds will be used to acquire companies with strong growth potential and innovative solutions.

Renatus Tactical is hoping to merge with a company operating in crypto, blockchain, data security, or dual-use tech—all sectors with significant government focus, as noted in its SEC filing. With Trump appointees heading the SEC, DOJ, and FTC, these agencies will be involved in overseeing the merger process.

Strong Ties To Trump Media

The company’s leadership has ties to Trump Media: CEO Eric Swider is a board member of Trump Media, Devin Nunes, Trump Media’s CEO, chairs Renatus Tactical’s board, and COO Alexander Cano was president and secretary of the firm that merged with Trump Media.

The company plans to sell 17.5 million shares at $10 each and 3.94 million warrants at $1 in a private placement. It is also offering convertible preferred securities to Unitas LLC, a private investment firm.

While the company's registration highlights its primary interest in cryptocurrency, blockchain, data security, and dual-use technologies mergers, it is open to considering acquisitions in any industry that aligns with its investment thesis.

Trump Ties Could Lead To Challenges?

In its SEC filing, Renatus Tactical highlights the current administration's initiative in integrating digital assets into the national financial strategy. It mentions President Trump's executive orders in 2019 to promote financial innovation and unburden the U.S. in the global competition for blockchain and cryptocurrency leadership.

However, Trump’s connection to the founders of Renatus Tactical may not be entirely beneficial for the company. The company itself acknowledges that it may face challenges and some parties might prefer not to work with them due to the connection.

The company notes that it is aware of the potential difficulties that could arise from this connection, and it is prepared to encounter and overcome any obstacles in its pursuit of a suitable merger target.