Trump Media will merge with TAE Technologies, creating one of the first publicly traded companies
FOX Business’ Lauren Simonetti reports from Asburn, Virginia, on ‘The Big Money Show.’
INTERMEDIATE: Trump Media & Technology Group Corp. is joining TAE Technologies—the world’s premier integrated energy company—representing a more than $6 billion merger to advance the path toward America’s dominance in artificial intelligence and energy security, Fox News Digital has learned.
This move creates one of the first publicly traded companies.
PUBLIC PARENT COMPANY TRUMP MEDIA & TECHNOLOGY GROUP WILL BE A PUBLICLY TRADED COMPANY
President Donald Trump’s social media business has been publicly listed as “DJT.” (Photo by Anna Barclay/Getty Images / Getty Images)
TMTG, the parent company of Truth Social, and TAE announced the signing of a definitive agreement to consolidate transactions involving all stocks valued at more than $6 billion. Under the agreement, TMTG, TAE, and TAE’s subsidiaries will come together under one umbrella.
TMTG CEO Devin Nunes and TAE CEO Dr. Michl Binderbauer is expected to serve as the executive officer of the combined company. Michael Schwab, founder and managing director of Big Sky Partners is expected to be appointed chairman of the nine-member board of directors.
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Current shareholders of TMTG will own approximately 50% and current shareholders of TAE will own approximately 50% of the combined company on a fully diluted equity basis.
In 2026, the newly incorporated company plans to locate and begin construction on the first global-scale power plant, subject to the necessary permits. Fox News Digital has learned that additional fusion power plants are planned.
Devin Nunes, CEO of the Trump Media & Technology Group, during the Conservative Political Action Conference (CPAC) in Dallas, Texas, US, on Friday, Aug. 5, 2022. (Dylan Hollingsworth/Bloomberg via Getty Images/Getty Images)
Fusion plants provide “economical, abundant, and reliable electricity that will help America win the AI revolution and maintain its global economic dominance,” the company said.
TAE fusion technology has been researched and developed for over 25 years, and has been able to significantly reduce reactor size, cost and complexity.
TAE has built and safely operated five fusion reactors and raised over $1.5 billion in private equity to date.
“The Trump Media & Technology Group has built an unbreakable infrastructure to protect Americans’ freedom of speech online, and now we’re taking a giant step toward revolutionary technology that will cement America’s dominance of global power for generations,” Nunes told Fox News Digital. “Fusion power will be the most powerful force since commercial nuclear power began in the 1950s – an innovation that will lower electricity prices, increase supply, ensure America’s AI superiority, renew our manufacturing base and strengthen national defense.”
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Aerial view of Jon Amos Power plant showing smoke stacks and cooling. (Visions of America/Joseph Sohm/Universal Images Group via Getty Images/Getty Images)
Nunes added: “TMTG brings capital and access to public markets to rapidly move TAE’s proven technology to commercialization.”
Binderbauer told Fox News Digital that “the talented TAE team, with commitment and scientific dedication, is ready to solve the biggest global challenge of energy shortages.”
“At TAE, recent success has allowed us to accelerate the deployment of funds to commercialize our proven integration technology,” he said. “We are excited to identify our first site and begin implementing this transformative technology that will fundamentally transform America’s energy supply.”
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DLA Piper LLP is acting as legal advisor to the TMTG merger, with Yorkville Securities acting as M&A advisor, and Clear Street acting as financial advisors to TMTG. Barclays is acting as financial advisor to TAE, with Baker Botts LLP acting as legal advisor to TAE.
