Devin Nunes
executive
Good morning. Thank you for joining us. I'm excited to be here alongside Dr. Michl Binderbauer, Chief Executive Officer of TAE Technologies to discuss the merger between two companies, TMTG and TAE Technologies. We are confident that this transaction will create significant value for shareholders and owners of both companies. I will briefly walk through the transaction rationale before turning the call over to Michl, who will provide more detail on TAE's technology and breakthroughs, and to share his perspective on why this business combination is so transformative.
Trump Media & Technology Group has built uncancelable infrastructure to secure free expression online for Americans, and now we're taking a big step toward a revolutionary technology that will cement America's global energy dominance for generation. Fusion Power will be the most dramatic energy breakthrough since the onset of commercial nuclear energy in the 1950s, an innovation that will lower energy prices, boost supply, ensure America's AI supremacy, and revive Americas manufacturing base and bolster national defense.
With TAE Technologies, the world's premier Fusion Power company, this combination positions the combined company to help lead the global AI revolution and kickstart an American Energy Renaissance. In short, this deal will create America's first publicly traded Fusion Power company. Why is Fusion Power revolutionary, it's because fusion power plants are now feasible at commercial scale, and they will produce reliable, cost-effective, dispatchable and carbon-free electricity and industrial heat with no nuclear meltdown risk or radioactive waste.
TAE, the undisputed leader in Fusion Power, is the ideal partner for us to achieve this breakthrough. Founded 27 years ago, the company has successfully built 5 demonstration fusion reactors with a track record of safely reducing cost, size and complexity. And it now stands ready to begin work on America's first commercial nuclear fusion plant.
This merger fulfills TMTG's America First principles. Fusion Power will lower energy prices, bolster our national defense, and secure the energy needed to guarantee America's dominance of AI technology.
The partnership also satisfies our MA strategy, combinations that bring transformative technology, the potential for significant long-term value creation and dramatic societal impact. We believe that we are ideally positioned to help usher in this energy revolution. Since becoming a public company last March, TMTG has amassed more than $3 billion in financial assets at the end of the third quarter of 2025. A source of funds that we can deploy to rapidly advance TAE's fusion technology. Together with TAE, we will have the capital and public market access to scale TAE's vision to put abundant nuclear energy on the grid.
Here's the structure of the deal. TMTG and TAE agreed to combine an all-stock transaction valued at more than $6 billion inclusive of debt. Upon closing, TMTG shareholders will own approximately 50% of the combined company on a fully diluted equity basis. We expect this transaction to close in mid-2026, subject to satisfaction of customary closing conditions, including shareholder and regulatory approvals. The combined company will include the core division for developing Fusion Technology, TAE Technologies, supplemented by additional assets, including TAE Power Solutions, TAE Life Sciences and the Truth Social assets.
Dr. Binderbauer and I will be co-CEOs of the combined company. We'll have a 9-person Board with Michael Schwab serving as Chairman, Dr. Binderbauer, Donald Trump, Jr., myself, and 5 other independent board members to be selected and named later. We'll also have an advisory board between specialists with diverse backgrounds and wide-ranging expertise. We'll have a shareholder vote as well as a series of public filings, including S-4 filing. We remain committed to maintaining transparency throughout this process.
At close, we will bring America's first publicly listed nuclear fusion company, working to build and make operational at commercial scale, the utility to scale nuclear fusion power plant. After closing, we plan to quickly seek approvals to site and build the company's first utility-scale power plant. We expect siding to commence by year-end 2026, setting us on path to build future plants expected to be 350 to 500 megawatts.
With that, I'm pleased to turn the call over to Dr. Michl Binderbauer.