Fortune
More than half of Trump Media’s cash on hand came from sellingg $450 million worth of shares to a small New Jersey financial firm

Paolo Confino
Wed, February 19, 2025 at 5:11 AM EST
3 min read

• Trump Media sold about 20 million shares to the small investment shop Yorkville Advisors, which helped it raise about $450 million in cash over 2024. The deal comes after the two firms signed a standby equity purchase agreement last July.

Over the course of last year the Trump Media and Technology Group (TMTG) raised $450 million by selling company shares at a discount to a small New Jersey financial firm that specializes in small- and micro-cap stocks.

The money TMTG raised from its stock sales to Yorkville Advisors represented a significant portion of the hefty amount of cash currently on its balance sheet. Despite losing roughly $400 million in 2024, TMTG has about $776.8 million in cash, cash equivalents and short-term investments, and only $24.7 million in debt, according to SEC filings released last week.

The $450 million raised from its stock sales to Yorkville Advisors accounts for roughly 57% of the cash on hand TMTG had at the end of the year. Despite its robust balance sheet, TMTG’s income statement tells the story of a company that, at the moment, is hemorrhaging cash. The company only had $3.6 million in revenue that led to the $400 million in net losses.

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