Three senior executives from the Trump Media & Technology Group have established Renatus Tactical Acquisition Corp I, a Cayman Islands-registered special purpose acquisition company.
The firm aims to raise approximately $179 million to acquire businesses in cryptocurrency, blockchain, data security, and dual-use technology. A Forbes report from March 20 indicates that Renatus Tactical’s leadership has close connections to Trump Media.
CEO Eric Swider, a Trump Media board member who previously led its merger, heads the company. Devin Nunes, Trump Media’s CEO, chairs the board of Renatus Tactical, while COO Alexander Cano was also involved in the Trump Media merger.
Renatus Tactical plans to raise $178.9 million by selling 17.5 million shares at $10 each in its initial public offering, along with 3.94 million warrants at $1 each through a private placement.
The company is focused on sectors with significant government oversight, which may be influenced by Trump-appointed regulators at the SEC, DOJ, and FTC.
The SEC registration noted the increasing role of digital assets in the national financial strategy, underscoring its focus on cryptocurrency and blockchain investments. However, it recognized that some businesses might hesitate to partner with the company due to its ties to Trump Media and Trump.
Renatus Tactical faces the challenge of gaining investor confidence while navigating political and regulatory issues, amidst Trump’s increasing involvement in the crypto sector.
On March 13, his World Liberty Financial project announced a $250 million raise in its second token sale, totaling $550 million since its launch last October. Reports suggest the Trump family could receive up to 75% of net revenue.
