Senior leaders from Trump Media & Technology Group (TMTG) have formed a special purpose acquisition company (SPAC), Renatus Tactical Acquisition Corp I, aiming to acquire a firm in the cryptocurrency, blockchain, data security, or dual-use technology sectors. According to a recent filing with the Securities and Exchange Commission (SEC), the SPAC hopes to raise significant capital for this venture.
Renatus Tactical, incorporated in the Cayman Islands, is looking to raise at least $179 million through an initial public offering (IPO) and private placement. The funds will be used to acquire another business. The company’s leadership has close ties to TMTG and former President Donald Trump, signaling a potential expansion of the Trump organization into the digital asset and technology space.
Renatus Tactical’s CEO, Eric Swider, is a board member of Trump Media. Devin Nunes, the current CEO, president, and chair of TMTG, also chairs Renatus Tactical’s board. Alexander Cano, the COO of Renatus Tactical, previously held leadership positions at the firm that merged with Trump Media.
The SPAC’s focus on cryptocurrency and blockchain, data security, and dual-use technology aligns with government involvement in these sectors. Given the regulatory landscape, with Trump appointees heading key agencies like the SEC, Department of Justice, and Federal Trade Commission, this connection could be strategic.
The SEC filing highlights the current administration’s efforts to integrate digital assets into the national financial strategy, which could be a key factor in Renatus Tactical’s focus. However, the company acknowledges potential risks. The filing warns that third parties may be hesitant to work with Renatus Tactical due to the affiliation of its management team and board with TMTG and former President Trump.
The merger between Trump Media and Digital World, a predecessor to the current SPAC, has been marked by legal and financial challenges. This included insider trading charges, restatements of financial statements, and a settlement with the SEC over misrepresentations. The difficulties continued even after the merger, with lawsuits from co-founders and changes in auditors.
While the SPAC intends to target acquisitions in the cryptocurrency and technology sectors, the registration statement indicates it has the flexibility to pursue acquisitions in any industry.
Renatus Tactical is aiming to raise $178,942,500 by selling 17.5 million shares to the public at $10 each and 3,942,500 warrants at $1 a piece in a private placement.
Future SEC filings could reveal additional Trump Media figures involved in the Renatus Tactical venture. The context of this SPAC launch comes at a time where TMTG is at the center of the media speculation. Devin Nunes, as CEO, earned $47 million in 2024, which included a $1 million base salary and significant stock awards.
