PANews reported on May 1 that according to Globenewswire, Freight Technologies, Inc. (Nasdaq: FRGT), a logistics management innovation company, announced that it has reached a convertible note issuance agreement with an institutional investor signed on April 29, 2025, through which the company can obtain up to US$20 million in funds. The funds raised from this financing will be used exclusively to purchase the official Trump official token TRUMP, making Fr8Tech one of the first listed companies to use TRUMP as one of the core of its digital asset strategy.
Under the financing arrangement, the company plans to issue notes with a total principal amount of US$1 million as the first tranche in the initial offering, with the option to draw up to an additional US$19 million in subsequent tranches subject to certain conditions. Following the recent acquisition of FET tokens (currently valued at approximately US$8 million as of April 29, 2025), the purchase of the official Trump token further advances Fr8Tech's strategy to build a diversified digital asset reserve.
