Trump Media and TAE Technologies Join Forces to Launch One of the First Publicly-Traded Fusion Companies
FOX Business’ Lauren Simonetti has the details from Ashburn, Virginia, on ‘The Big Money Show.’
EXCLUSIVE: Trump Media & Technology Group Corp. is partnering with TAE Technologies, the leading fusion power company, in a groundbreaking merger valued at over $6 billion. This collaboration aims to position America at the forefront of artificial intelligence and energy security, as reported by Fox News Digital.
This merger marks the establishment of one of the first publicly traded fusion companies.
TRUTH SOCIAL PARENT COMPANY TRUMP MEDIA & TECHNOLOGY GROUP TO BECOME PUBLICLY TRADED COMPANY
President Donald Trump’s social media business became publicly listed as “DJT.” (Photo by Anna Barclay/Getty Images / Getty Images)
TMTG, the parent company of Truth Social, and TAE have signed a definitive agreement for an all-stock transaction exceeding $6 billion. This agreement will see TMTG, TAE, and TAE’s subsidiaries unite under one corporate umbrella.
Devin Nunes, CEO of TMTG, and Dr. Michl Binderbauer, CEO of TAE, are set to serve as co-CEOs of the new entity. Michael Schwab, founder and managing director of Big Sky Partners, is anticipated to be appointed chairman of a nine-member board of directors.
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Upon completion, current TMTG stockholders will hold approximately 50% of the combined company, with TAE stockholders retaining an equal share on a fully diluted equity basis.
By 2026, the newly merged company plans to identify a site and commence construction on the world’s first utility-scale fusion power plant, pending necessary approvals. Additional fusion power plants are also in the pipeline.
Devin Nunes, CEO of 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)
According to the companies, fusion plants will provide “economic, abundant, and dependable electricity,” essential for America to excel in the A.I. revolution and maintain its global economic leadership.
TAE has been researching and developing its fusion technology for over 25 years, successfully reducing reactor size, cost, and complexity.
To date, TAE has built and safely operated five fusion reactors, raising more than $1.5 billion in private capital.
Nunes remarked, “Trump Media & Technology Group built uncancellable infrastructure to secure free expression online for Americans, and now we’re taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations.” He emphasized that fusion power represents a significant energy breakthrough, promising lower energy prices, increased supply, and enhanced national defense.
US SCIENTISTS MAKE MAJOR BREAKTHROUGH IN ‘LIMITLESS, ZERO-CARBON’ FUSION ENERGY: REPORT
Aerial view of Jon Amos Power plant shows smoke stacks and cooling. (Visions of America/Joseph Sohm/Universal Images Group via Getty Images / Getty Images)
Nunes further stated, “TMTG brings the capital and public market access to quickly move TAE’s proven technology to commercial viability.” Dr. Binderbauer echoed this sentiment, emphasizing TAE’s commitment to addressing global energy challenges through innovative solutions.
“At TAE, recent breakthroughs have allowed us to accelerate capital deployment to commercialize our proven fusion technology,” he noted. “We’re excited to identify our first site and begin deploying this revolutionary technology that will fundamentally transform America’s energy supply.”
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DLA Piper LLP is serving as the legal advisor for the merger on behalf of TMTG, with Yorkville Securities acting as M&A advisor and Clear Street as financial advisors. Barclays is providing financial advisory services for TAE, with Baker Botts LLP serving as TAE’s legal advisor.
FOX Business’ Lauren Simonetti has the details from Ashburn, Virginia, on ‘The Big Money Show.’
EXCLUSIVE: Trump Media & Technology Group Corp. is partnering with TAE Technologies, the leading fusion power company, in a groundbreaking merger valued at over $6 billion. This collaboration aims to position America at the forefront of artificial intelligence and energy security, as reported by Fox News Digital.
This merger marks the establishment of one of the first publicly traded fusion companies.
TRUTH SOCIAL PARENT COMPANY TRUMP MEDIA & TECHNOLOGY GROUP TO BECOME PUBLICLY TRADED COMPANY
President Donald Trump’s social media business became publicly listed as “DJT.” (Photo by Anna Barclay/Getty Images / Getty Images)
TMTG, the parent company of Truth Social, and TAE have signed a definitive agreement for an all-stock transaction exceeding $6 billion. This agreement will see TMTG, TAE, and TAE’s subsidiaries unite under one corporate umbrella.
Devin Nunes, CEO of TMTG, and Dr. Michl Binderbauer, CEO of TAE, are set to serve as co-CEOs of the new entity. Michael Schwab, founder and managing director of Big Sky Partners, is anticipated to be appointed chairman of a nine-member board of directors.
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Upon completion, current TMTG stockholders will hold approximately 50% of the combined company, with TAE stockholders retaining an equal share on a fully diluted equity basis.
By 2026, the newly merged company plans to identify a site and commence construction on the world’s first utility-scale fusion power plant, pending necessary approvals. Additional fusion power plants are also in the pipeline.
Devin Nunes, CEO of 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)
According to the companies, fusion plants will provide “economic, abundant, and dependable electricity,” essential for America to excel in the A.I. revolution and maintain its global economic leadership.
TAE has been researching and developing its fusion technology for over 25 years, successfully reducing reactor size, cost, and complexity.
To date, TAE has built and safely operated five fusion reactors, raising more than $1.5 billion in private capital.
Nunes remarked, “Trump Media & Technology Group built uncancellable infrastructure to secure free expression online for Americans, and now we’re taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations.” He emphasized that fusion power represents a significant energy breakthrough, promising lower energy prices, increased supply, and enhanced national defense.
US SCIENTISTS MAKE MAJOR BREAKTHROUGH IN ‘LIMITLESS, ZERO-CARBON’ FUSION ENERGY: REPORT
Aerial view of Jon Amos Power plant shows smoke stacks and cooling. (Visions of America/Joseph Sohm/Universal Images Group via Getty Images / Getty Images)
Nunes further stated, “TMTG brings the capital and public market access to quickly move TAE’s proven technology to commercial viability.” Dr. Binderbauer echoed this sentiment, emphasizing TAE’s commitment to addressing global energy challenges through innovative solutions.
“At TAE, recent breakthroughs have allowed us to accelerate capital deployment to commercialize our proven fusion technology,” he noted. “We’re excited to identify our first site and begin deploying this revolutionary technology that will fundamentally transform America’s energy supply.”
CLICK HERE TO GET THE FOX NEWS APP
DLA Piper LLP is serving as the legal advisor for the merger on behalf of TMTG, with Yorkville Securities acting as M&A advisor and Clear Street as financial advisors. Barclays is providing financial advisory services for TAE, with Baker Botts LLP serving as TAE’s legal advisor.
