Four-year-old Trump Media & Technology
Group (NASDAQ stock symbol DJT) this morning announced plans to merge with nuclear fusion power developer TAE Technologies
in a deal they said would create a new company valued at $6 billion.
Based on its current share price, TMTG has a market cap of $2.9 billion. Its shares have been trading at or near their
52-week low.
It is the second merger since it launched as a publicly traded company, which includes the Truth Social network among its primary assets.
In February, after Trump was
inaugurated as president, the company filed plans with the Securities and Exchange Commission to find "mergers and acquisitions across multiple industries."
The companies said the definitive
merger agreement will create the first publicly traded nuclear fusion power company.
"Fusion power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in
the 1950s—an innovation that will lower energy prices, boost supply, ensure America’s A.I.-supremacy, revive our manufacturing base and bolster national defense," TMTG Chairman-CEO Devin
Nunes said in a statement.
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