TLDR
- Three Trump Media & Technology Group executives launched Renatus Tactical Acquisition Corp I, a SPAC seeking to raise $179 million
- The Cayman Islands-based SPAC aims to acquire US-based companies in cryptocurrency, blockchain, data security, or dual-use technology sectors
- Key executives include Eric Swider (CEO), Devin Nunes (Chairman), and Alexander Cano (COO) – all with ties to Trump Media
- The SPAC cites Trump administration’s pro-crypto policies as motivation, including recent executive orders for a Bitcoin reserve
- The filing acknowledges potential challenges due to Trump connections, as some businesses might be reluctant to work with them
Three executives with close ties to Trump Media & Technology Group have formed a new special purpose acquisition company (SPAC) aimed at purchasing businesses in the cryptocurrency and blockchain sectors. The blank-check company, named Renatus Tactical Acquisition Corp I, is seeking to raise approximately $179 million through public and private offerings.
The Cayman Islands-registered SPAC filed regulatory documents with the Securities and Exchange Commission on March 14. This move comes as the Trump administration has taken steps to embrace digital assets as part of national financial strategy.
Eric Swider will serve as the CEO of Renatus Tactical. He is currently a director at Trump Media and was previously the CEO of Digital World Acquisition Corp, the SPAC that merged with Trump Media to take it public.
Devin Nunes holds leadership positions in both companies. He serves as the CEO and chair of Trump Media while also chairing the board of Renatus Tactical.
Alexander Cano rounds out the leadership team as chief operating officer. Cano previously served as president of Digital World Acquisition Corp during its merger with Trump Media.
The SPAC plans to raise funds through two channels. It aims to sell 17.5 million public shares at $10 each in an initial public offering.
Additionally, Renatus will offer 3.94 million private placement warrants at $1 each. The combined fundraising goal totals just under $179 million.
Targeting Crypto and Tech Acquisitions
While the company hasn’t named any targets yet, it expressed interest in acquiring “one or more businesses” in specific sectors. Its primary focus will be on cryptocurrency and blockchain companies based in the United States.
Data security firms also fall within the SPAC’s acquisition interests. The filing mentioned potential investments in technology with both military and non-military applications, often referred to as dual-use technologies.
The timing aligns with the Trump administration’s recent crypto-friendly policies. The SPAC filing specifically mentioned President Trump’s March executive order to create a Bitcoin reserve and a broader cryptocurrency stockpile.
The filing also referenced Trump’s January directive that established a working group to propose new cryptocurrency laws. These policy shifts appear to have influenced the SPAC’s strategic direction.
Despite the potential opportunities, Renatus acknowledges possible challenges ahead. The filing notes that some businesses may be reluctant to work with the company due to its connections to Trump and Trump Media.
This concern echoes issues faced by other Trump-affiliated businesses. The filing points to Tesla as an example, noting how the car maker’s stock has dropped over 40% this year partly due to CEO Elon Musk’s role as White House cost-cutting czar.
President Trump maintains a majority stake in Trump Media, which operates the Truth Social platform. His 114.75 million shares account for a large portion of his overall wealth, valued at about $2.36 billion based on recent stock prices.
In December, Trump placed these shares in a trust to address potential conflicts of interest ahead of his inauguration. This move aimed to separate his business interests from his presidential duties.
The launch of Renatus Tactical occurs alongside other Trump-related crypto ventures. On March 13, Trump’s World Liberty Financial project announced it had raised an additional $250 million in its second token sale.
This brings the total sales for World Liberty Financial to $550 million since its launch in October. Reports indicate the Trump family could receive up to 75% of the net revenue from this venture.
Renatus Tactical now faces the challenge of attracting investor interest while navigating political considerations. The company will need to balance its Trump connections with its business objectives as it searches for acquisition targets.
