Trump Media & Technology Group and TAE Technologies announced an all-stock merger in December 2025 valued at more than $6 billion, with each side’s shareholders expected to own roughly 50 percent of the combined entity. The agreement initially targeted a mid-2026 close but was later revised to the fourth quarter of 2026 or earlier, before a December 18, 2026 outside date, subject to shareholder votes, SEC registration, and other regulatory approvals. A Form S-4 registration statement was filed on September 30, 2026, providing detailed terms and advancing the process. In June 2026 the parties abandoned plans to spin off media assets into a separate public company, while confirming continued focus on completing the fusion-energy transaction. No closing occurred by July 31, 2026, consistent with the updated timeline and the need for additional approvals before the deal can finalize.