These Investors Are Putting $1 Billion Into Trump Media

The hedge funds Pentwater Capital and Sabby Management are two of the bigger investors in the private placement, as previously reported by The Times. Funds associated with Pentwater, a $10 billion hedge fund based in Naples, Fla., stand to get the largest number of shares through the deal, according to the draft document.

Other big investors include Anson Funds Management, Kershner Trading Americas, K2 Associates, Yorkville Advisors and MMCAP. Although they are not household names, some are well known in the hedge fund world for making PIPE investments, which often have lucrative terms. Many of Wall Street’s biggest hedge funds passed on the opportunity because they were concerned about the optics of teaming up with Mr. Trump.

At least two of the investors on the list were not yet known.

One large investor is an entity called Truth SPC. The name appears to be a reference to Truth Social, the Twitter look-alike that is a flagship product of Mr. Trump’s company, Trump Media Technology Group. But online searches, including of U.S. corporate records, did not reveal any entity by that name.

Article source: https://www.nytimes.com/2022/05/24/business/investors-trump-truth-social.html