Listed logistics company announces Freight raises up to $20 million to purchase TRUMP tokens

According to Globenewswire, logistics management innovation company Freight Technologies, Inc. (Nasdaq: FRGT) announced that it has reached a convertible note issuance agreement with an institutional investor signed on April 29, 2025. Through this financing arrangement, the company can obtain up to $20 million in funding. The funds raised from this financing will be specifically used to purchase the official Trump token TRUMP, making Fr8Tech one of the first publicly traded companies to make TRUMP one of its core digital asset strategies. According to this financing arrangement, the company plans to issue notes with a total principal of $1 million in the initial offering as the first installment, and can subsequently withdraw up to $19 million in additional funds based on specific conditions. Following the recent acquisition of FET tokens (valued at approximately $8 million as of April 29, 2025), the purchase of official Trump tokens further advances Fr8Tech's strategy of building a diversified digital asset reserve.