Trump Media (DJT) outlines planned merger with TAE Technologies and S-4 filing

Rhea-AI Filing Summary

Trump Media & Technology Group Corp. is preparing for a proposed merger with TAE Technologies, Inc. and plans to file a Form S-4 registration statement to issue TMTG common stock in connection with the deal. The Form S-4 will include a combined proxy statement, prospectus and consent solicitation statement for Trump Media shareholders and TAE stockholders, and will describe the transaction terms, risks and governance of the combined company. The communication urges investors to carefully read the registration statement and related materials when available, and explains that Trump Media and TAE directors and executives may be deemed participants in soliciting proxies for the merger. It also includes extensive forward-looking statement disclaimers highlighting technology, financing, regulatory, market and execution risks, and clarifies that this communication does not constitute an offer to buy or sell securities or a solicitation of any vote or approval.

Insights

M&A and capital markets analyst

Trump Media outlines a planned stock-for-stock merger with TAE, pending S-4, votes and approvals, with extensive technology and execution risks highlighted.

The communication describes a proposed merger in which Trump Media & Technology Group Corp. expects to issue common stock registered on Form S-4 to combine with TAE Technologies, Inc.. The Form S-4 will serve as proxy statement, prospectus and consent solicitation statement, meaning both Trump Media shareholders and TAE stockholders will be asked to approve the transaction after regulators declare the registration effective.

The text underscores that directors and executive officers of both companies may be deemed participants in proxy solicitations and directs investors to prior 10-K, 10-Q and proxy filings for details on their interests. It also lists a wide range of risks around fusion technology viability, financing, regulatory approvals, construction timelines, competition, and the ability to achieve profitability, making clear that actual results could differ materially from expectations.

The communication further notes that legal proceedings, failure to obtain shareholder approvals, or other closing conditions could delay or prevent completion of the merger. It reiterates that this is not an offer to sell securities; any offer would need to be made only through a prospectus meeting Securities Act requirements. Overall, the content is preparatory and descriptive rather than final on terms, so its impact depends on details that will appear in the future Form S-4.

Filed by Trump Media & Technology Group Corp.

Pursuant to Rule 425 under the Securities Act of 1933

and deemed filed pursuant to Rule 14a-12

under the Securities Exchange Act of 1934

Subject Company: Trump Media & Technology Group Corp.

Commission File No.: 001-40779

Date: December 19, 2025

On December 19, 2025, Trump Media & Technology Group Corp. made the following communications available on the social media platforms identified below. 

Truth Social:

https://truthsocial.com/@truthsocial/posts/115747491295578420

https://truthsocial.com/@truthsocial/posts/115747015841086065

On December 19, 2025, Trump Media & Technology Group Corp. made the following email communication to Truth Social users.

Important Information About the Proposed Transaction and Where to Find It

In connection with the proposed transaction, Trump Media & Technology Group Corp. (“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 Technologies, Inc. (“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.

FAQ

What transaction does Trump Media & Technology Group Corp. (DJT) describe in this communication?

The communication describes a proposed merger between Trump Media & Technology Group Corp. and TAE Technologies, Inc., in which TMTG would issue common stock registered on Form S-4 to complete the transaction.

What SEC filing will Trump Media & Technology Group Corp. (DJT) use for the TAE merger?

Trump Media intends to file a registration statement on Form S-4 with the SEC to register TMTG common stock to be issued in connection with the proposed merger, including a combined proxy statement, prospectus and consent solicitation statement.

How can Trump Media (DJT) and TAE investors access the merger documents?

After effectiveness, the definitive proxy statement, prospectus and consent solicitation statement will be mailed or sent to shareholders, and investors will be able to obtain free copies of the Form S-4 and related documents via www.sec.gov and the Trump Media website under the “Investors” tab.

Who may be considered participants in the proxy solicitation for the Trump Media (DJT) and TAE merger?

The communication states that Trump Media and TAE and certain of their directors and executive officers may be deemed participants in soliciting proxies from Trump Media shareholders, with details about their interests to be included in the Form S-4 and related materials.

What key risks are highlighted regarding the proposed Trump Media (DJT) and TAE merger?

The text highlights risks around demonstrating commercial viability of TAE’s fusion technology, obtaining financing, regulatory approvals, development and construction delays, competition, cost competitiveness of fusion-generated electricity, demand for nuclear energy, and the possibility the merger may not close if shareholder approvals or other conditions are not met.

Does this Trump Media (DJT) communication constitute an offer to buy or sell securities?

No. It explicitly states that the communication does not constitute an offer to buy or sell any securities or a solicitation of any vote or approval, and that any offer of securities would only be made by a prospectus meeting Section 10 of the Securities Act of 1933.