Three high-ranking officials from a media and technology group associated with Trump have established Renatus Tactical Acquisition Corp I, a special purpose acquisition company registered in the Cayman Islands.
The objective of the new firm is to secure approximately $179 million for the purpose of acquiring businesses operating in sectors such as cryptocurrency, blockchain, data security, and dual-use technology. A recent report highlighted that the leadership team at Renatus Tactical has strong connections to the aforementioned media group.
The CEO, Eric Swider, serves on the board of the media group and previously was at the helm of the company that merged with it. Devin Nunes, the CEO of the media group, chairs Renatus Tactical’s board, while COO Alexander Cano also played a role in the merger.
Renatus Tactical is aiming to raise $178.9 million by selling 17.5 million shares at a price of $10 each in an initial public offering. Additionally, the firm plans to offer 3.94 million warrants at $1 each through a private placement.
The company is focusing on industries characterized by significant government oversight, which could be influenced by regulators appointed during Trump’s administration at the Securities and Exchange Commission, Department of Justice, and Federal Trade Commission.
In its SEC registration filing, the company indicated that digital assets have become increasingly integral to the national financial landscape, thus its emphasis on cryptocurrency and blockchain investment. However, it also recognized that some businesses might hesitate to partner with them due to their connections to the media group.
Renatus Tactical now faces the task of instilling investor confidence while addressing political and regulatory apprehensions. This launch comes at a time when Trump is becoming more actively engaged in the crypto space.
On March 13, his World Liberty Financial initiative revealed it had raised $250 million during its second token sale, bringing the overall total to $550 million since its launch last October. Reports indicate that the Trump family could potentially receive as much as 75% of the net revenue.