Trump Media & Technology Group (NasdaqGM:DWAC) M&A Announcement Transcript

Summary of Trump Media & Technology Group and TAE Technologies Merger Conference Call Industry and Companies Involved - Companies: Trump Media & Technology Group (TMTG) and TAE Technologies - Industry: Fusion Power and Technology Core Points and Arguments 1. Merger Announcement: TMTG and TAE Technologies are planning a merger that is expected to create significant value for shareholders of both companies [2][5] 2. Fusion Power Significance: The merger aims to establish the first publicly traded fusion power company, which is anticipated to be a major breakthrough in energy production, providing reliable, cost-effective, and carbon-free electricity [3][4] 3. Financial Position: TMTG has accumulated over $3 billion in financial assets as of Q3 2025, which will be utilized to advance TAE's fusion technology [4] 4. Transaction Structure: The merger is structured as an all-stock transaction valued at over $6 billion, with TMTG shareholders expected to own approximately 50% of the combined company [5][6] 5. Leadership and Governance: The combined company will have co-CEOs, Devin Nunes and Dr. Michael Benevides, and a nine-person board including independent members [5][6] 6. Investment Commitment: TMTG will invest up to $200 million into TAE and an additional $100 million upon filing a Form S-4 with the SEC to accelerate TAE's objectives [8] 7. Timeline for Development: The first utility-scale fusion power plant is expected to be sited by the end of 2026, with plans for future plants in the 350-500 megawatt range [7][9] 8. Funding and Support: TAE has raised over $1.3 billion in private capital from notable investors, including Google and Chevron, which underscores the confidence in its research and technology [9] Other Important Information 1. Regulatory and Shareholder Approval: The merger is subject to customary closing conditions, including regulatory and shareholder approvals, with ongoing transparency throughout the process [5][11] 2. Focus on American Innovation: The partnership emphasizes a mission centered on American innovation and global energy leadership, aiming to lead the transition toward sustainable power [11] 3. Technological Differentiation: TAE's approach combines plasma physics and accelerator physics, which is seen as a key factor in achieving utility-scale fusion power [8]