Trump Insiders Want A Piece Of Crypto, SPAC Action: Is A Merger Coming?
Two executives with ties to President Donald Trump and Trump Media & Technology Group (NASDAQ:DJT) have a new SPAC offering targeting the cryptocurrency market.
With several stocks soaring on recent crypto-related mergers, could this be a SPAC to watch?
The SPAC Offering: On Thursday, Renatus Tactical Acquisition Corp I (NASDAQ:RTACU) began trading. The units consist of one common share (NASDAQ:RTAC) and one-half of a redeemable warrant (NASDAQ:RTAW).
After announcing a 17.5 million offering at $10 per unit to raise $175 million, the offering was upsized to 21 million shares raising $210 million.
While SPACs have received less attention in recent years, this particular blank check company, given its two names attached, could quickly attract investors’ attention.
Among the names involved in the sponsor companies of the SPAC deal are Eric Swider and Devin Nunes. Swider is the former CEO of Digital World Acquisition Corporation. The company, referred to as DWAC, was a SPAC that took Trump’s media company Trump Media & Technology Group public.
Swider and Nunes currently serve as director and CEO of Trump Media & Technology Group, respectively. For the new SPAC, Swider serves as CEO while Nunes is chairman.
SPAC expert and Accelerate CEO Julian Klymochko highlighted the offering in a …
About The Author
