Freight Technologies (FRGT) entered into an agreement for the issuance of convertible notes through a facility of up to $20M with an institutional investor signed on April 29. Capital from the financing is exclusively earmarked for purchasing Official Trump Tokens, making Fr8Tech one of the first public companies to make $TRUMP a cornerstone of its digital asset strategy. Pursuant to the financing, the Company intends to initially issue notes in the aggregate principal amount of $1M in its first tranche, with additional capacity of up to $19less than available in subsequent drawdowns, subject to certain conditions. This transaction to purchase Official Trump tokens advances Fr8Tech’s strategy to build a diversified digital asset treasury, following its recent acquisition of FET tokens.
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