Trump Media (NYSE: DJT) unveils $6B all-stock merger with fusion leader TAE

Rhea-AI Filing Summary

Trump Media & Technology Group Corp. plans to merge with TAE Technologies in an all-stock deal valued at more than $6 billion. At closing, shareholders of each company are expected to own approximately 50% of the combined company on a fully diluted basis, creating a holding company for Truth Social, Truth+, Truth.Fi, TAE’s fusion power operations, TAE Power Solutions and TAE Life Sciences.

The boards of both companies have approved the merger, which is expected to close in mid-2026, subject to shareholder and regulatory approvals. TMTG has agreed to provide up to $200 million of cash to TAE, with an additional $100 million available upon initial filing of a Form S-4. TMTG reports total financial assets of $3.1 billion as of the third quarter of 2025, while TAE has raised $1.3 billion in private capital to date.

The combined company intends to site and begin construction of its first utility-scale fusion power plant in 2026, targeting initial facility power operations in 2031 and future commercial plants sized at 350–500 MWe. Leadership will be led by co-CEOs Devin Nunes and Dr. Michl Binderbauer, with a nine-member, majority-independent board chaired by Michael B. Schwab.

Positive

• Transformative all-stock merger valued at more than $6 billion combines TMTG and TAE, with each shareholder group expected to own about 50% of the combined company on a fully diluted basis.
• Significant available capital, including TMTG’s reported $3.1 billion of financial assets as of Q3 2025 and TAE’s $1.3 billion of private capital raised, is positioned to support fusion and media growth plans.
• Structured project funding with TMTG agreeing to provide up to $200 million of cash to TAE and an additional $100 million upon initial Form S-4 filing to advance near-term fusion milestones.
• Clear development roadmap targeting siting and construction of the first utility-scale fusion plant in 2026, net energy capability by 2030 and initial power operations in 2031, with future commercial plants sized at 350–500 MWe.
• Experienced leadership and governance featuring co-CEOs Devin Nunes and Dr. Michl Binderbauer and a majority-independent nine-member board chaired by Michael B. Schwab, combining capital markets and deep technical expertise.

Negative

• Extended execution timeline with key fusion milestones—first plasma in 2029, net energy capability in 2030 and initial power operations in 2031—pushing potential commercial benefits many years into the future.
• Substantial technology and commercialization risk explicitly flagged, including the need to demonstrate commercial viability of fusion reactors, manage development delays and achieve targeted generation capacities.
• Regulatory and approval uncertainty, as closing by mid-2026 depends on multiple customary conditions, including shareholder approvals for both companies and required regulatory clearances.
• Integration and strategic shift risk, as DJT transitions from a focused media/technology business into a diversified media-and-fusion conglomerate, introducing complexity in governance, capital allocation and operations.
• Legal, financing and market risks noted in the forward-looking statements, including potential legal proceedings, ability to obtain future financing on acceptable terms, competition, and changing market or regulatory conditions for nuclear and fusion energy.

Insights

M&A and capital markets analyst

All-stock DJT–TAE merger creates a 50/50 fusion-and-media conglomerate with substantial capital but long execution risk.

The transaction combines TMTG and TAE Technologies in an all-stock merger valued at more than $6 billion, with each shareholder base owning about 50% of the combined entity on a fully diluted basis. TMTG becomes holding company for its media/fintech brands plus TAE’s fusion, power solutions and life sciences businesses, shifting DJT from a pure-play media story toward a diversified tech and energy platform.

Funding is a key feature: TMTG cites $3.1 billion of financial assets as of Q3 2025, and TMTG has agreed to provide up to $200 million of cash to TAE, with another $100 million upon Form S-4 filing. TAE has already raised $1.3 billion privately, and the merger is framed as "derisking" early milestones and enabling construction of the first 50 MWe utility-scale fusion plant starting in 2026, targeting fusion-generated electricity in 2031.

For investors, this is a thesis-changing deal: DJT becomes heavily exposed to long-dated fusion development, with timelines that include first plasma in 2029, net energy capability by 2030 and initial power operations in 2031. The filing also highlights extensive forward-looking risks—regulatory approvals, technology viability, financing, legal proceedings and integration challenges—so ultimate value creation will depend on execution over many years and on shareholder approvals and regulatory clearances expected ahead of the mid-2026 closing target.

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UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

PURSUANT TO SECTION 13 OR 15(D)

OF THE SECURITIES EXCHANGE ACT OF 1934

Date of Report (Date of earliest event reported): December 18, 2025

Trump Media & Technology Group Corp.

(Exact name of registrant as specified in its charter)

Florida	001-40779	85-4293042
(State or other jurisdiction of incorporation)	(Commission File Number)	(IRS Employer Identification No.)

401 N. Cattlemen Rd., Ste. 200 Sarasota, Florida		34232
(Address of principal executive offices)		(Zip Code)

Registrant’s telephone number, including area code: (941) 735-7346

(Former name or former address, if changed since last report.)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☒
Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Securities registered pursuant to Section 12(b) of the Act:

Title of Each Class		Trading Symbol(s)		Name of Each Exchange on Which Registered
Common stock, par value $0.0001 per share		DJT		The Nasdaq Stock Market LLC
Common stock, par value $0.0001 per share		DJT		New York Stock Exchange Texas
Redeemable Warrants, each whole warrant exercisable for one share common stock at an exercise price of $11.50		DJTWW		The Nasdaq Stock Market LLC
Redeemable Warrants, each whole warrant exercisable for one share common stock at an exercise price of $11.50		DJTWW		New York Stock Exchange Texas

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company ☐

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act. ☐

 Item 7.01 Regulation FD Disclosure.

On December 18, 2025, Trump Media & Technology Group Corp., a Florida corporation (“TMTG”), and TAE Technologies, Inc., a Delaware corporation (“TAE”), issued a joint press release announcing the execution of an Agreement and Plan of Merger, dated December 18, 2025, by and among TMTG, TAE and T Media Sub, Inc., a Florida corporation and wholly owned subsidiary of TMTG (“Merger Sub”), pursuant to which, upon the terms and subject to the conditions set forth therein, Merger Sub will merge with and into TAE (the “Merger”), with TAE surviving the Merger as a wholly owned subsidiary of TMTG. In addition, on December 18, 2025, the parties made available an investor presentation regarding the proposed transaction.

Copies of the press release and investor presentation are furnished herewith as Exhibit 99.1 and Exhibit 99.2, respectively, and are incorporated by reference herein.

The information contained in Item 7.01 of this report, including Exhibit 99.1 and Exhibit 99.2, shall not be incorporated by reference into any filing of the registrant, whether made before or after the date hereof, regardless of any general incorporation language in such filing, unless expressly incorporated by specific reference to such filing. The information in this report, including the exhibit hereto, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that section.

Important Information About the Proposed Transaction and Where to Find It

In connection with the proposed transaction, TMTG intends to file with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 to register the common stock of TMTG to be issued in connection with the proposed transaction. The registration statement will include a document that serves as a proxy statement and prospectus of TMTG and consent solicitation statement of TAE (the “proxy statement/prospectus and consent solicitation statement”), and TMTG will file other documents regarding the proposed transaction with the SEC. This document is not a substitute for the registration statement, the proxy statement/prospectus and consent solicitation statement, or any other document that TMTG may file with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND CONSENT SOLICITATION STATEMENT, AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TMTG AND TAE, THE PROPOSED TRANSACTION, THE RISKS RELATED THERETO, AND RELATED MATTERS.

After the registration statement has been declared effective, a definitive proxy statement will be mailed to the shareholders of TMTG (the “TMTG Shareholders”) and a prospectus and consent solicitation statement will be sent to the stockholders of TAE. Investors and security holders will be able to obtain free copies of the registration statement and the proxy statement/prospectus and consent solicitation statement, as each may be amended or supplemented from time to time, and other relevant documents filed by TMTG with the SEC (if and when they become available) through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by TMTG, including the proxy statement/prospectus and consent solicitation statement (when available), will be available free of charge from TMTG’s website at tmtgcorp.com under the “Investors” tab.

Participants in the Solicitation

TMTG and certain of its directors and executive officers and TAE and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from the TMTG Shareholders with respect to the proposed transaction under the rules of the SEC. Information regarding the names, affiliations and interests of certain of TMTG’s directors and executive officers in the solicitation by reading TMTG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the SEC on February 14, 2025, TMTG’s subsequent Quarterly Reports on Form 10-Q filed with the SEC on May 9, 2025, August 1, 2025 and November 7, 2025, respectively, TMTG’s definitive proxy statement for the 2025 annual meeting of shareholders filed with the SEC on March 18, 2025 and the proxy statement/prospectus and consent solicitation statement and other relevant materials filed with the SEC in connection with the proposed transaction when they become available. Free copies of these documents may be obtained as described in the paragraphs above. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the TMTG Shareholders in connection with the proposed transaction, including a description of their direct and indirect interests, by security holdings or otherwise, will also be set forth in the proxy statement/prospectus and consent solicitation statement and other relevant materials when filed with the SEC.

Forward-Looking Statements

This report, including the exhibits attached hereto, contains forward-looking statements. All statements, other than statements of present or historical fact included in this report, regarding TMTG’s proposed merger with TAE, TMTG’s ability to consummate the transaction, the benefits of the transaction and the combined company’s future financial performance, as well as the combined company’s strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Words such as “anticipate,” “believe,” “expect,” “intend,” “may,” “plan,” “project,” “should,” “will” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these identifying words, and the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements include, but are not limited to, statements regarding TMTG’s and TAE’s expectations, hopes, beliefs, intentions or strategies regarding the future including, without limitation, statements regarding: the anticipated timing and terms of the proposed transaction; plans for deployment of capital and the uses thereof; governance of the combined company; development and construction timelines; cost competitiveness of fusion-generated electricity; timing of commercialization of TAE’s fusion technology; expectations regarding  the time period over which the Combined Company’s capital resources will be sufficient to fund its anticipated operations; plans for research and development programs; and future demand for power. These forward-looking statements are based largely on TMTG’s and TAE’s current expectations. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause TMTG’s or TAE’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, risks related to TMTG’s or TAE’s ability to demonstrate and execute on commercial viability of its technology; legal proceedings; ability to obtain financing on acceptable terms or at all; changes in digital asset valuations; disruption to TMTG’s or TAE’s operations; TMTG’s or TAE’s ability to develop and maintain key strategic relationships; competition in TMTG’s or TAE’s industry; ability to access required materials at acceptable costs; delays in the development and manufacturing of fusion power plants and related technology; ability to manage growth effectively; possibility of incurring losses in the future and not being able to achieve or maintain profitability; potential generation capacities of specific reactor designs; regulatory outlook; future market conditions; success of strategic partnerships; developments in the capital and credit markets; future financial, operational and cost performance; revenue generation; demand for nuclear energy; economic outlook and public perception of the nuclear energy industry; changes in laws or regulations; ability to obtain required regulatory approvals on a timely basis or at all; ability to protect intellectual property; adverse economic or competitive conditions; and other risks and uncertainties. In addition, TMTG and TAE caution you that the forward-looking statements contained in this report are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the proposed transaction or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against TMTG or TAE following announcement of the proposed transaction; (iii) the inability to complete the proposed transaction due to the failure to obtain approval of the shareholders of TMTG or TAE, or other conditions to closing in the merger agreement; (iv) the risk that the proposed transaction disrupts TMTG’s or TAE’s current plans and operations as a result of the announcement of the proposed transaction; (v) TMTG’s and TAE’s ability to realize the anticipated benefits of the proposed transaction, which may be affected by, among other things, competition and the ability of TMTG and TAE to grow and manage growth profitably following the proposed transaction; and (vi) costs related to the proposed transaction. The forward-looking statements in this press release are based upon information available to TMTG and TAE as of the date of this press release and, while TMTG and TAE believe such information forms a reasonable basis for such statements, these statements are inherently uncertain, and you are cautioned not to unduly rely upon these statements. Except as required by applicable law, TMTG and TAE do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in TMTG’s periodic filings with the SEC, including TMTG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, TMTG’s subsequent Quarterly Reports on Form 10-Q and in the Form S-4, when filed. TMTG’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

No Offer or Solicitation

This report is not intended to and does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Item 9.01 Financial Statements and Exhibits.

(d) Exhibits.

Exhibit Number		Description
99.1		Press Release, dated December 18, 2025
99.2		Investor Presentation
104		Cover Page Interactive Data File (embedded within the Inline XBRL document).

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	Trump Media & Technology Group Corp.
Dated: December 18, 2025	By:	/s/ Scott Glabe
	Name:	Scott Glabe
	Title:	General Counsel and Secretary

Exhibit 99.1

Trump Media & Technology Group to Merge with TAE Technologies, a Premier Fusion Power Company, in All-Stock Transaction Valued at More Than $6 Billion

Combined company expects to site and commence construction of the first utility-scale fusion power plant in 2026 

Fusion power to blaze path toward America’s A.I. dominance and energy security

Conference call scheduled for 9 a.m. ET, December 18, 2025 

Sarasota, Fla. & Foothill Ranch, Calif. – December 18, 2025 – (GLOBE NEWSWIRE) -- Trump Media & Technology Group Corp. (Nasdaq, NYSE Texas: DJT) (“TMTG”) and TAE Technologies, Inc. (“TAE”) today announced the signing of a definitive merger agreement to combine in an all-stock transaction valued at more than $6 billion. Upon closing, shareholders of each company will own approximately 50% of the combined company on a fully diluted equity basis. The companies have posted supplemental slides to their respective websites, all of which can be accessed at tmtgcorp.com and tae.com.

Highlights:

• Transaction to create one of the world’s first publicly traded fusion companies. Deal to combine TMTG’s access to significant capital and TAE’s leading fusion technology. In 2026, the combined company plans to site and begin construction on the world’s first utility-scale fusion power plant (50 MWe), subject to required approvals. Additional fusion power plants are planned and expected to be 350 – 500 MWe. Fusion power plants are expected to provide economic, abundant, and dependable electricity that would help America win the A.I. revolution and maintain its global economic dominance.

• TMTG’s balance sheet to accelerate the path to power. The transaction will combine the strength of TMTG’s strong balance sheet with TAE’s leading technologies. As part of the transaction, TMTG has agreed to provide up to $200 million of cash to TAE at signing and an additional $100 million is available upon initial filing of the Form S-4.

• TAE’s next-generation fusion technology is poised for commercial application. After more than 25 years of research and development, TAE has significantly reduced fusion reactor size, cost and complexity. TAE has built and safely operated five fusion reactors and raised more than $1.3 billion in private capital to date from Google, Chevron Technology Ventures, Goldman Sachs, Sumitomo Corporation of Americas, NEA, the visionary family offices of Addison Fischer, the Samberg Family, Charles Schwab, and others.

• Combined company to be governed by experienced management and board. Devin Nunes, TMTG Chairman and CEO, and Dr. Michl Binderbauer, TAE CEO and Director, plan to serve as Co-CEOs of the combined company; Michael B. Schwab, Founder and Managing Director of Big Sky Partners, is expected to be named Chairman of a planned nine-member board of directors.

Nunes said, “Trump Media & Technology Group built uncancellable infrastructure to secure free expression online for Americans, and now we’re taking a big step forward toward a revolutionary technology that will cement America’s global energy dominance for generations. 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 brings the capital and public market access to quickly move TAE’s proven technology to commercial viability.”

Binderbauer said, “Our talented team, through its commitment and dedication to science, is poised to solve the immense global challenge of energy scarcity. At TAE, recent breakthroughs have prepared us to accelerate capital deployment to commercialize our fusion technology. We’re excited to identify our first site and begin deploying this revolutionary technology that we expect to fundamentally transform America’s energy supply.”

Transaction Details

Under the terms of the merger agreement, TAE and TMTG shareholders will each own approximately 50% of the combined company at closing, stated on a fully diluted equity basis.

Based on TMTG’s trailing 30-day VWAP share price as of market close on December 17, 2025, the transaction values each share of TAE common stock (on a fully diluted basis) at $53.89 per share.

Upon closing, Trump Media & Technology Group will be the holding company for Truth Social, Truth+, Truth.Fi, TAE, TAE Power Solutions and TAE Life Sciences, among others.

The transaction, which was approved by the boards of directors of both companies, is expected to close in mid-2026, subject to customary closing conditions, including shareholder and regulatory approvals.

TAE Technologies, a Leading American Innovator

Founded in 1998, TAE’s next phase focuses on deploying commercial, utility scale fusion energy. Planned power plants would provide reliable, affordable, carbon-free electricity and industrial heat without the risks of nuclear meltdown, radioactive waste, or proliferation. These advancements position TAE to offer dispatchable, affordable energy at a time of surging power demand.

In addition to its fusion business, TAE has two partially-owned subsidiaries -- TAE Power Solutions and TAE Life Sciences. The power business has developed innovative energy storage and power delivery systems to serve multiple industries, including A.I. data centers, industrial users, and electric vehicles. TAE Life Sciences has developed a biologically targeted radiotherapy to treat cancer patients.

The TAE team consists of more than 400 employees, including 62 Ph.D. holders. The company holds over 1,600 patents, reflecting its leadership in fusion innovation. Binderbauer is globally recognized as a pioneering scientific mind, credited with more than 100 technology patents and numerous awards.

Leadership and Governance

Schwab said, “Through my involvement with TAE over the two decades, I’ve watched first-hand their commitment to science and the promise of applying fusion power to help solve the world’s demand for clean, abundant, affordable energy. With the infusion of TMTG’s significant capital, TAE is on the precipice of scaling its leading technology to usher in a new era of energy abundance. The world needs energy, and fusion is the clear answer.”

Nunes and Binderbauer will serve as co-CEOs of the combined company. Nunes will continue to lead all Trump Media brand operations. Binderbauer will manage TAE Technologies.

The combined company will be managed by a nine-member board of directors, comprised of two directors from TMTG—includes Nunes and Donald J. Trump Jr.—two directors from TAE—including Binderbauer and Schwab—and five other independent directors to be selected and named later. As noted above, Schwab is expected to be named board chair.

Advisors

For TMTG, Yorkville Securities is serving as lead financial and M&A advisor, Clear Street is serving as financial advisor, and DLA Piper (U.S.) LLP is serving as a legal advisor.  For TAE, Barclays is serving as financial advisor and Baker Botts LLP is serving as legal advisor.

Joint Investor Call and Additional Information

Management of TMTG and TAE plan to host an investor call at 9 a.m. ET on December 18, 2025, to discuss the transaction. The call can be accessed here.

A webcast of the call, along with this press release and the supplemental slides, are available in the “investor” sections of the TMTG IR website at https://ir.tmtgcorp.com/ and TAE’s website at tae.com.

In addition, TMTG plans to file the investor presentation with the SEC as an exhibit to a Current Report on Form 8-K prior to the call, which will be available on the SEC’s website at www.sec.gov.

About TMTG

The mission of Trump Media is to end Big Tech's assault on free speech by opening up the Internet and giving people their voices back. Trump Media operates Truth Social, a social media platform established as a safe harbor for free expression amid increasingly harsh censorship by Big Tech corporations, as well as Truth +, a TV streaming platform focusing on family-friendly live TV channels and on-demand content. Trump Media is also launching Truth.Fi, a financial service and FinTech brand incorporating America First investment vehicles.

Since going public in March 2024, TMTG has amassed total financial assets of $3.1 billion (as of third quarter 2025), including cash, restricted cash, short-term investments, trading securities, and digital assets.

About TAE

TAE Technologies is the world’s leading fusion power company, developing the most sustainable and economically competitive solution to bring abundant clean energy to the grid and carbon-intensive industrial processes. In addition, it operates subsidiaries TAE Power Solutions, which provides technology for energy storage and power delivery systems for batteries and electric vehicles, as well as TAE Life Sciences, which develops technologies and drugs for treating cancer patients.

Important Information About the Proposed Transaction and Where to Find It

In connection with the proposed transaction, TMTG intends to file with the U.S. Securities and Exchange Commission (the “SEC”) a registration statement on Form S-4 to register the common stock of TMTG (“TMTG Shares”) to be issued in connection with the proposed transaction. The registration statement will include a document that serves as a proxy statement and prospectus of TMTG and consent solicitation statement of TAE (the “proxy statement/prospectus and consent solicitation statement”), and TMTG will file other documents regarding the proposed transaction with the SEC. This document is not a substitute for the registration statement, the proxy statement/prospectus and consent solicitation statement, or any other document that TMTG may file with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND CONSENT SOLICITATION STATEMENT, AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TMTG AND TAE, THE PROPOSED TRANSACTION, THE RISKS RELATED THERETO, AND RELATED MATTERS.

After the registration statement has been declared effective, a definitive proxy statement will be mailed to the shareholders of TMTG (the “TMTG Shareholders”) and a prospectus and consent solicitation statement will be sent to the stockholders of TAE. Investors and security holders will be able to obtain free copies of the registration statement and the proxy statement/prospectus and consent solicitation statement, as each may be amended or supplemented from time to time, and other relevant documents filed by TMTG with the SEC (if and when they become available) through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by TMTG, including the proxy statement/prospectus and consent solicitation statement (when available), will be available free of charge from TMTG’s website at tmtgcorp.com under the “Investors” tab.

Participants in the Solicitation

TMTG and certain of its directors and executive officers and TAE and certain of its directors and executive officers, may be deemed to be participants in the solicitation of proxies from the TMTG Shareholders with respect to the proposed transaction under the rules of the SEC. Information regarding the names, affiliations and interests of certain of TMTG’s directors and executive officers in the solicitation by reading TMTG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024 filed with the SEC on February 14, 2025, TMTG’s subsequent Quarterly Reports on Form 10-Q filed with the SEC on May 9, 2025, August 1, 2025 and November 7, 2025, respectively, TMTG’s definitive proxy statement for the 2025 annual meeting of shareholders filed with the SEC on March 18, 2025 and the proxy statement/prospectus and consent solicitation statement and other relevant materials filed with the SEC in connection with the proposed transaction when they become available. Free copies of these documents may be obtained as described in the paragraphs above. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the TMTG Shareholders in connection with the proposed transaction, including a description of their direct and indirect interests, by security holdings or otherwise, will also be set forth in the proxy statement/prospectus and consent solicitation statement and other relevant materials when filed with the SEC.

Forward-Looking Statements

This communication contains forward-looking statements. All statements, other than statements of present or historical fact included in this communication, regarding TMTG’s proposed merger with TAE, TMTG’s ability to consummate the transaction, the benefits of the transaction and the combined Company’s future financial performance, as well as the combined Company’s strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are based on current expectations and assumptions and are subject to risks and uncertainties that could cause actual results to differ materially. Words such as “anticipate,” “believe,” “expect,” “intend,” “may,” “plan,” “project,” “should,” “will” and similar expressions are intended to identify forward-looking statements, though not all forward-looking statements contain these identifying words, and the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements include, but are not limited to, statements regarding TMTG’s and TAE’s expectations, hopes, beliefs, intentions or strategies regarding the future including, without limitation, statements regarding: the anticipated timing and terms of the proposed transaction; plans for deployment of capital and the uses thereof; governance of the combined Company; development and construction timelines; cost competitiveness of fusion-generated electricity; timing of commercialization of TAE’s fusion technology; expectations regarding  the time period over which the combined Company’s capital resources will be sufficient to fund its anticipated operations; plans for research and development programs; and future demand for power. These forward-looking statements are based largely on TMTG’s and TAE’s current expectations. These forward-looking statements involve known and unknown risks, uncertainties and other important factors that may cause TMTG’s or TAE’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but not limited to, risks related to TMTG’s or TAE’s ability to demonstrate and execute on commercial viability of its technology; legal proceedings; ability to obtain financing on acceptable terms or at all; changes in digital asset valuations; disruption to TMTG’s or TAE’s operations; TMTG’s or TAE’s ability to develop and maintain key strategic relationships; competition in TMTG’s or TAE’s industry; ability to access required materials at acceptable costs; delays in the development and manufacturing of fusion power plants and related technology; ability to manage growth effectively; possibility of incurring losses in the future and not being able to achieve or maintain profitability; potential generation capacities of specific reactor designs; regulatory outlook; future market conditions; success of strategic partnerships; developments in the capital and credit markets; future financial, operational and cost performance; revenue generation; demand for nuclear energy; economic outlook and public perception of the nuclear energy industry; changes in laws or regulations; ability to obtain required regulatory approvals on a timely basis or at all; ability to protect intellectual property; adverse economic or competitive conditions; and other risks and uncertainties. In addition, TMTG and TAE caution you that the forward-looking statements contained in this communication are subject to the following factors: (i) the occurrence of any event, change or other circumstances that could delay the proposed transaction or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be instituted against TMTG or TAE following announcement of the proposed transaction; (iii) the inability to complete the proposed transaction due to the failure to obtain approval of the shareholders of TMTG or TAE, or other conditions to closing in the merger agreement; (iv) the risk that the proposed transaction disrupts TMTG’s or TAE’s current plans and operations as a result of the announcement of the proposed transaction; (v) TMTG’s and TAE’s ability to realize the anticipated benefits of the proposed transaction, which may be affected by, among other things, competition and the ability of TMTG and TAE to grow and manage growth profitably following the proposed transaction; and (vi) costs related to the proposed transaction. The forward-looking statements in this press release are based upon information available to TMTG and TAE as of the date of this press release and, while TMTG and TAE believe such information forms a reasonable basis for such statements, these statements are inherently uncertain, and you are cautioned not to unduly rely upon these statements. Except as required by applicable law, TMTG and TAE do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise. Additional information concerning these and other factors that may impact the operations and projections discussed herein can be found in TMTG’s periodic filings with the SEC, including TMTG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, TMTG’s subsequent Quarterly Reports on Form 10-Q and in the Form S-4, when filed. TMTG’s SEC filings are available publicly on the SEC’s website at www.sec.gov.

No Offer or Solicitation

This communication is not intended to and does not constitute an offer to buy or sell or the solicitation of an offer to buy or sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

Contacts

TMTG – Contact Shannon Devine (MZ Group | Managing Director - MZ North America)

Email: shannon.devine@mzgroup.us Media Contact press@tmtgcorp.com

TAE – press@tae.com

##

Exhibit 99.2

 TMTG to Merge with TAE  Advancing America’s energy dominance  and powering the A.I. revolution 

Disclaimer 2 Forward-Looking Statements This presentation contains forward-looking statements. All statements, other than statements of present or historical fact included in this presentation, regarding Trump Media and Technology Group Corp.’s (“TMTG”) proposed merger with TAE Technologies, Inc. (“TA E”), TMTG’s ability to consummate the transaction, the benefits o f the transactio n and the combined company’s future financial perfo rmance, as well as the combined company’s strategy, future operations, estimated financial position, estimated revenues and losses, projected costs, prospects, plans and objectives of management are forward-looking statements. These statements are based on current expectations and assumptio ns and are subject to risks and uncertainties that co uld cause actual results to differ materially. Words such as “anticipate,” “believe,” “expect,” “intend,” “may,” “plan,” “pro ject,” “should,” “will” and similar expressio ns are intended to identify forward-looking statements, though not all forward-looking statements contain these identifying words, and the absence of these words does not mean that a statement is not forward-looking. Such forward-looking statements include, but are no t limited to, statements regarding TMTG’s and TAE’s expectations, hopes, beliefs, intentio ns or strategies regarding the future including, without limitation, statements regarding: the anticipated timing and terms of the proposed transaction; plans for deployment of capital and the uses thereof; governance of the combined company; development and construction timelines; cost competitiveness of fusion-generated electricity; timing of commercialization of TA E’s fusion technology and the technology of its subsidiaries; expectations regarding the time period over which the combined company’s capital resources will be sufficient to fund its anticipated operations; plans for research and development programs; and future demand for power (including from artificial intelligence). These forward -looking statements are based largely on TMTG’s and TA E’s current expectations. These forward-looking statements invo lve k nown and unk nown risks, uncertainties and o ther important factors that may cause TMTG’s or TAE ’s actual results, performance or achievements to be materially different from any future results, performance or achievements expressed or implied by the forward-looking statements, including, but no t limited to, risks related to TMTG ’s or TAE ’s ability to demonstrate and execute on commercial viability of its technology; legal proceedings; ability to obtain financing on acceptable terms or at all; changes in digital asset valuations; disruption to TMTG’s or TAE’s operations; TMTG’s or TAE’s ability to develop and maintain k ey strategic relationships; competition in TMTG’s o r TAE ’s industry; ability to access required materials at acceptable costs; delays in the development and manufacturing of fusion power plants and related technology; ability to manage growth effectively; possibility of incurring losses in the future and not being able to achieve or maintain profitability; potential generation capacities of specific reactor designs; safety and cleanliness of specific reactor designs; regulatory outlook; future market conditions; success of strategic partnerships; developments in the capital and credit markets; future financial, operational and cost performance; revenue gen eration; demand for nuclear energy; economic outlook and public perception of the nuclear energy industry; changes in laws or regulations; ability to obtain required regulatory approvals on a timely basis or at all; ability to prote ct intellectual property; adverse economic or competitive conditions; and other risks and uncertainties. In addition, TMTG and TAE caution you that the forward-looking statements contained in this presentation are subject to the following factors : (i) the occurrence of any event, change or other circumstances that could delay the proposed transaction or give rise to the termination of the agreements related thereto; (ii) the outcome of any legal proceedings that may be inst ituted against TMTG or TAE following announcement of the proposed transaction; (iii) the inability to complete the proposed transaction due to the failure to obtain approval of the shareholders of TMTG or TAE, or other conditions to closing in the merger agreement; (iv) the risk that the proposed transactio n disrupts TMTG’s o r TAE ’s current plans and operations as a result of the announcement of the proposed transaction; (v) TMTG’s and TA E’s ability to realize the antic ipated benefits of the proposed transaction, which may be affected by, among other things, competition and the ability of TMTG and TAE to grow and manage growth profitably following the proposed transaction; and (vi) costs related to th e proposed transaction. The forward-looking statements in this press release are based upon information available to TMTG and TAE as of the date of this press release and, while TMTG and TAE believe such information forms a reasonable basis for such statements, these statements are inherently uncertain, and you are cautioned not to unduly rely upon these statements. Except as required by applicable law, TMTG and TAE do not plan to publicly update or revise any forward-looking statements contained in this press release, whether as a result of any new information, future events or otherwise. Additional information concerning these and other factors that may impact the operations and proj ections discussed herein can be found in TMTG ’s periodic filings with the SEC, including TMTG’s Annual Report on Form 10-K for the fiscal year ended December 31, 2024, TMTG’s subsequent Quarterly Repo rts on Form 10 -Q and in the Form S-4, when filed. TMTG’s SEC filings are available publicly on the SEC’s website at www.sec.gov. Participants in the Solicitation TMTG and certain of its directors and executive officers and TAE and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from the TMTG Shareholders with respect to the proposed transaction under the rules o f the SEC. Info rmation regarding the names, affiliations and interests of certain of TMTG’s directors and executive officers in the so licitation by reading TMTG ’s Annual Report on Form 10 -K for the fiscal year ended December 31, 2024 filed with the SE C on February 14, 2025, TMTG’s subsequent Quarterly Reports on Form 10 -Q filed with the SEC on May 9, 2025, August 1, 2025 and November 7, 2025, respectively, TMTG’s definitive proxy statement for the 2025 annual meeting of shareholders filed with the SEC on March 18, 2025 and the proxy statement/prospectus and conse nt solicitation statement and other relevant materials filed with the SEC in connection with the proposed transaction when they become available. Free copies of these documents may be obtained as described in the paragraphs above. Information regarding the persons who may, under the rules of the SEC, be deemed participants in the solicitation of the TMTG Shareholders in connection with the proposed transaction, including a description of their direct and indirect interests, by security holdings or otherwise, will also be set forth in the proxy statement/prospectus and consent solicitation statement and other relevant materials when filed with the SEC. Important Information About the Proposed Transaction and Where to Find It In connection with the proposed transaction, TMTG intends to file with the U.S. Securities and Exchange Commissio n (the “SEC”) a registration statement on Form S-4 to register the common sto ck of TMTG (“TMTG Shares”) to be issued in connection with the proposed transaction. The registration statement will include a document that serves as a proxy statement and prospectus of TMTG and consent solicitation statement of TAE (the “proxy statement/prospectus and consent solicitation statement”), and TMTG will file other documents regarding the proposed transactio n with the SE C. This do cument is not a substitute for the registration statement, the proxy statement/prospectus and consent solicitation statement, or any other document that TMTG may file with the SEC. BEFORE MAKING ANY VOTING DECISION, INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE REGISTRATION STATEMENT, THE PROXY STATEMENT/PROSPECTUS AND CONSENT SOLICITATION STATEMENT, AND ANY OTHER RELEVANT DOCUMENTS THAT MAY BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THOSE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY IF AND WHEN THEY BECOME AVAILABLE BECAUSE THEY WILL CONTAIN IMPORTANT INFORMATION ABOUT TMTG AND TAE, THE PROPOSED TRANSACTION, THE RISKS RELATED THERETO, AND RELATED MATTERS. After the registration statement has been declared effective, a definitive proxy statement will be mailed to the shareholders of TMTG (the “TMTG Shareho lders”) and a prospectus and consent solicitatio n statement will be sent to the stockholders of TAE. Investors and security holders will be able to obtain free copies of the registration statement and the proxy statement/prospectus and consent solicitation statement, as each may be amended or supplemented from time to time, and other relevant documents filed by TMTG with the SEC (if and when they become available) through the website maintained by the SEC at www.sec.gov. Copies of documents filed with the SEC by TMTG, including the proxy statement/pro spectus and co nsent solicitation statement (when available), will be available free of charge from TMTG’s website at tmtgcorp.com under the “Investo rs” tab. No Offer or Solicitation This presentation is not intended to and does not constitute an offer to buy or sell or the solicitation of an offer to buy o r sell any securities, or a solicitation of any vote or approval, nor shall there be any sale of securities in any jurisdiction in which such offer, solicitation, or sale would be unlawful prior to registration or qualification under the securities laws of any such jurisdiction. No offer of securities shall be made except by means of a prospectus meeting the requirements of Section 10 of the Securities Act of 1933, as amended.

 Transaction highlights  All Stock Transaction  TMTG/TAE: approximately 50% each, on a fully diluted basis  Pro forma Ticker: DJT (NASDAQ & NYSE Texas)  Pro forma Company capitalized to fund first utility-scale fusion plant while continuing to grow differentiated media and technology franchises  TAE has demonstrated technology and team, >25-year history  As part of the transaction, TMTG has agreed to provide up to $200 million of cash to TAE and an additional $100 million is  available upon initial filing of the Form S-4  Pro forma board highly accomplished: nine-member board (majority independent), including Devin Nunes, Michl Binderbauer, Donald J. Trump Jr. And Michael B. Schwab (Chairman)  Next Steps  Expected to close in mid-26, subject to customary closing conditions and shareholder approval by both companies  Mid 26  Expected transaction  close  4 

 TMTG: Experience with large capital raises and complex regulatory processes  TMTG: Publicly listed on NASDAQ and NYSE Texas  TMTG: Mission of America-first investments solidified through TAE deal  TAE: 27 years of fusion research, five fusion reactors  TAE: 400 employees,  62 Ph.Ds, over 1,600 patents  granted  TAE "fits" TMTG mandate through consistent values:  Promotes energy independence  Strengthens national  security  Bolsters U.S. businesses and manufacturing  Maintains American  energy dominance  Future upside through TAE Power Solutions, TAE Life Sciences businesses  TMTG: planning to provide significant capital to advance project developments  TAE: Raised $1.3B in private capital to date  Pro forma Company: conglomerate to combine leading energy innovator and growing media company  Pro forma Company: America-focused mission; strong capital structure  Pro forma Company on mission to realize America's promise  Management: Nunes  and Binderbauer to serve as  Co-CEOs  Board: Michael Schwab to serve as Board Chair  Pro forma Company to be  governed by nine-  member board with diverse experience, proven track record  Majority of the board will be  independent  TMTG to advance TAE's unrivaled, proprietary technology  Pro forma Company to advance American ingenuity for the benefit of all  Established infrastructure to deliver electric power, secure freedom, and provide  technological solutions for Americans  Creates one of the world’s  first publicly traded  fusion cos., with innovative, growing tech and media businesses  Skilled, experienced management and board of directors  4 

 Pro forma company to deliver clean, affordable, reliable fusion energy  Recognized global leader in fusion power  Five reactors built to date  Targeting utility-scale power generation  Future plants to be scaled to 350 – 500 MWe  Fusion energy to meet A.I.-driven demand  TAE's proprietary technology is safe, deployable, firm, and reliable baseload power  5  TMTG to serve as  Pro forma ho lding company.  Cutting edge battery and  power delivery systems  Innovative biologically targeted radiation therapy for cancer  Financial services and fintech brand  incorporating America-first investments  Social media platform ensuring free  speech online  Ultra-fast streaming of non-woke news networks  and family-friendly on-demand content 

 New pathway to commercialization after Norm breakthrough  2025—2031  First Fusion  Power Plant  1998—2005  Component  R&D Era  A, B, C-1  1998 – 2005  Plasma core & fuel  injection established  6’  2006—2012  Concept  Validation  C-2  2006 – 2012  First full-scale,  integrated machine  70’  100’  Norman  2016—2022  “Hot Enough” milestone,  plasma at >30M°C  2013—2022  Norman Era:  Proof of Science  C-2U  2013 – 2016  “Long Enough” milestone,  ”at will” sustainment  70’  2022—2028  Norm Era:  Scaling to Reactor Level  Norm & Norm-U  2022 – 2028  Reactor level plasma  performance at 100M°C  50’  Da Vinci  2025—2031  Enables sustainable,  economic power plants  150+’  First Power  Offtake  TAE's track record of innovation advantages future value creation  4  7  Nobel Prize laureates  Maxwell Prize  winners on staff and advisory  Scientific awards received  8 by TAE Chief Science Officer  Key scientific peer reviews  200+ or scientific papers published  8+  U.S. Dept. of Energy Awards  Targeting fusion-generated electricity in 2031  Paves way for power plants expected to be sized 350 – 500 MWe.  10 

 Robust IP position and track record of success  0  250  500  750  1000  1250  1500  1750  2000  2250  2500  2000  2001  2002  2003  2004  2005  2006  2007  2008  2009  2010  2011  2012  2013  2014  2015  2016  2017  2018  2019  2020  2021  2022  2023  2024  TAE has had >1,600 patents granted, licensing of proprietary products for future revenue stream  TAE and partially-owned subsidiary business lines:  Breakthrough reactor design; targeting fusion-generated electricity in 2031  Deliver lower cost, higher performing energy storage, applicable to AI-data center expansion  Patented particle accelerator technology for a breakthrough biologically-guided radiation therapy  TAE CEO Dr. Michl Binderbauer holds  >100 patents, and has published in the world’s  leading, peer-reviewed scientific journals  Track record of innovation expected to advantage pro forma Company for future value creation  TAE Technologies Patents Filed and Granted Since 2000  Cumulative Patents Granted  Patent Applications Filed (net)  10 

 TAE is a clear leader to accelerate American fusion’s path to power  Fusion: no long-lived radioactive waste, no pollution, uses readily available, cost-effective fuels  Breakthrough reactor design: smaller, less expensive, easier to build and operate  Targeting delivery of fusion-generated electricity by 2031  Modular design, site-agnostic, community-friendly  Critical products sourced in  U.S., readily available supply chain  Future commercial power plants to target 350 - 500 MWe per plant  TAE has built five fusion reactors to date. Pictured is the Norman reactor.  10 

 TMTG’s balance sheet to provide funding to build the world's first utility-scale 50 MWe power plant  Post close, Company plans to site and construct  its first utility-scale fusion power plant, in accordance with the following target milestones:  2026  Site location and commence construction, pending approvals  2029  First plasma expected,  marking transition to  pre-commercial operations  2030  Net energy capability to validate economic viability  2031  Initial facility power operations  Pro forma Company to advance Da Vinci project in 2026  Success paves way for additional  power plants, expected to be sized 350 – 500 MWe  Da Vinci power plant – TAE's planned first utility-scale fusion power plant.  10 

 Derisked financing clears path to commercialization  Transaction to bolster U.S.-leadership position in nuclear fusion technology and deployment  $3.1 B of financial assets on balance sheet as of third quarter 2025  Capitalization will allow for initial site selection and commencement of construction in near-term, targeting fusion-generated electricity in 2031  TMTG to invest up to $200 M into TAE and an additional  $100 M upon filing a Form S-4 to derisk near term  milestones and accelerate fusion’s path to power  $1.3B  Capital raised to date from notable partners  Industry-leading financial positioning  10 

 3,500  4,000  4,500  6,500  6,000  5,500  5,000  American fusion to address A.I. industry’s call for power  Total U.S. Power Demand(1)  0.76% CAGR  (2012 -2024)  2.14% CAGR  (2025-2040)  3,000  2,500  2012 2016 2020 2024 2028 2032 2036 2040  December 15, 2025  TWh  11  Source: WoodM ackenzie as of 5/ 21/2 025 . 

 Company to have majority-independent nine-member board, including Schwab, Binderbauer, Nunes, and Trump, Jr.; plan to assemble advisory board comprised of specialists with diverse backgrounds and experiences  Governance: Skilled, diverse Board of Directors  Michael B. Schwab  Board Chair  Michael B. Schwab, Founder and managing director of Big Sky Partners, has spent  over two decades transforming ideas into reality through visionary investments.  Michl Binderbauer, PhD  Co-CEO, Board Member  Dr. Michl Binderbauer,  co-Founder and CEO of TAE Technologies, is the architect of TAE Technologies’ research and development program, and is a co-inventor of many  of the company’s technological  advancements.  Donald Trump, Jr.  Board Member  Donald J. Trump Jr. is an innovator and leader in today’s business world, whose inherent business sense adds a level of detail and depth to the management of all current and future Trump projects.  Devin Nunes  Co-CEO, Board Member  Devin Nunes, CEO of Trump Media and Technology Group, oversaw the expansion of TMTG into a multi-billion dollar  company and the development of the proprietary technology to launch global, interoperable, apps to protect free speech online.  12 

 Proven, experienced leadership  Michl Binderbauer, PhD  Co-CEO, Board Member  Devin Nunes  Co-CEO, Board Member  Chairman of the President's Intelligence Advisory Board and former Chairman of the House Intelligence Committee  25 years of experience in public service addressing defense, intelligence, energy, tax, trade, and healthcare policy issues  Successful track record of large capital raises including a $2.4B private placement offering  Experience navigating complex SEC merger processes and regulatory issues  Published multiple papers in the world’s leading peer-reviewed scientific journals, including Science, Physical Review Letters, Nature Communications, among others  Holds >100 U.S. and international technology patents  Recipient of UC Irvine’s prestigious Lauds & Laurels  Award  Inaugural inductee into the UCI School of Physical Sciences Hall of Fame  12 

 TMTG to Merge with TAE  Advancing America’s energy dominance  and powering the A.I. revolution 

FAQ

What did Trump Media & Technology Group (DJT) announce with TAE Technologies?

TMTG announced a definitive agreement to merge with TAE Technologies in an all-stock transaction valued at more than $6 billion. At closing, TMTG and TAE shareholders are expected to own approximately 50% each of the combined company on a fully diluted equity basis, creating a holding company for TMTG’s media and fintech brands alongside TAE’s fusion, power solutions and life sciences businesses.

How will ownership of the combined DJT and TAE company be structured?

Under the merger agreement, TMTG and TAE shareholders will each own about 50% of the combined company at closing, stated on a fully diluted equity basis. Trump Media & Technology Group will serve as the holding company for Truth Social, Truth+, Truth.Fi, TAE, TAE Power Solutions and TAE Life Sciences, among others.

When is the Trump Media–TAE merger expected to close?

The transaction has been approved by both boards of directors and is expected to close in mid-2026, subject to customary closing conditions. These include approvals from the shareholders of both TMTG and TAE, as well as required regulatory approvals and satisfaction of other conditions set forth in the merger agreement.

How much capital is being committed to TAE as part of the DJT merger?

TMTG has agreed to provide up to $200 million of cash to TAE, with an additional $100 million available upon initial filing of the Form S-4. The combined company highlights that TMTG held $3.1 billion of financial assets as of the third quarter of 2025, and TAE has raised $1.3 billion in private capital to date.

What are the key fusion development milestones described for the combined company?

The combined company plans to site and commence construction of its first utility-scale fusion power plant in 2026. The roadmap targets first plasma in 2029, net energy capability in 2030 to validate economic viability, and initial facility power operations in 2031. Future commercial plants are expected to be sized at 350–500 MWe per plant.

Who will lead the combined Trump Media and TAE organization after the merger?

After closing, the combined company will be led by co-CEOs Devin Nunes and Dr. Michl Binderbauer. Nunes will continue to lead Trump Media brand operations, while Binderbauer will manage TAE Technologies. Governance will be provided by a nine-member, majority-independent board, including Nunes, Binderbauer, Donald J. Trump Jr. and Michael B. Schwab, with Schwab expected to serve as board chair.

What regulatory filings will be made for the DJT–TAE merger and how can investors get information?

TMTG intends to file a registration statement on Form S-4 with the SEC to register TMTG common stock to be issued in the transaction. The Form S-4 will contain a proxy statement/prospectus and consent solicitation statement. Investors and security holders are urged to read the registration statement and related materials when available, which can be obtained for free from the SEC’s website at www.sec.gov and from TMTG’s website at tmtgcorp.com under the “Investors” tab.