Three senior executives from Trump Media & Technology Group have established Renatus Tactical Acquisition Corp I, a Cayman Islands-registered special purpose acquisition company (SPAC).
The company is seeking to raise approximately $179 million to acquire businesses in the cryptocurrency, blockchain, data security, and dual-use technology sectors. According to a Forbes report published on March 20, Renatus Tactical’s leadership has close associations with Trump Media. Eric Swider, the CEO, is a member of the Trump Media board and previously led the company that merged with it. Devin Nunes, CEO of Trump Media, is the chairman of Renatus Tactical’s board, and COO Alexander Cano was also involved in the Trump Media merger.
Renatus Tactical plans to raise $178.9 million through an initial public offering (IPO), selling 17.5 million shares at $10 each. The company will also offer 3.94 million warrants at $1 each through a private placement. Renatus Tactical is focusing on industries that have strong levels of government oversight, a factor that could be influenced by Trump-appointed regulators at the Securities and Exchange Commission, Department of Justice, and Federal Trade Commission.
The company’s SEC registration filing pointed out that digital assets have become a more significant component of the national financial strategy, which is driving the focus on cryptocurrency and blockchain investments. However, the filing also acknowledged that some businesses might be hesitant to engage with the company because of its connections to Trump Media and Donald Trump. Renatus Tactical now faces the challenge of securing investor confidence while addressing political and regulatory concerns.
This launch occurs during a period of increasing involvement by Trump in the crypto sector. On March 13, his World Liberty Financial project disclosed that it had raised $250 million in its second token sale. This raises overall sales to $550 million since its launch last October. Reports indicate that the Trump family could receive up to 75% of the net revenue.
