Trump Media & Technology Group Corp. (TMTG) and TAE Technologies filed a registration statement on Form S-4 with the U.S. Securities and Exchange Commission on September 30, 2026. The filing advances the all-stock merger the two companies announced earlier, according to TAE’s announcement.
TAE Technologies describes itself as an innovator in advanced technology across fusion energy, power management and cancer therapy. The companies say the combined business would be one of the world’s first publicly traded companies developing commercial fusion energy.
How the All-Stock Deal Is Structured
TMTG and TAE entered into an Agreement and Plan of Merger on December 18, 2025, providing for an all-stock business combination. Once completed, the combined company will be publicly traded.
TMTG shareholders and TAE stockholders would each own approximately 50% of the enterprise on a fully diluted basis. The companies say the deal will pair TMTG’s balance sheet with the applied research TAE Technologies has developed over nearly 30 years.
The Registration Statement includes a preliminary proxy statement of TMTG, a prospectus of TMTG and a consent solicitation statement of TAE. It has not yet become effective. Securities to be issued in the merger may not be sold before the SEC declares it effective.
What the Executives Said
“With TAE, we see a differentiated, balanced risk profile with attractive growth opportunities,” said Kevin McGurn, Interim Chief Executive Officer of TMTG. “Today’s filing is a key step toward closing this merger and providing capital to fund TAE’s development of commercial fusion power.”
Michl Binderbauer, Chief Executive Officer and Chief Technology Officer of TAE Technologies, said “TMTG has been a strong supporter in our effort to commercialize our technologies.” He said that over three decades, the company has “relentlessly pursued some of the most challenging scientific and engineering problems known to humankind.”
TMTG said the combination fits its mission of diversifying into new, critically important sectors through technology investments. Trump Media operates Truth Social, the Truth+ streaming platform and Truth.Fi, a financial services and FinTech brand.
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Fusion, Power Solutions and Life Sciences
TAE Technologies is commercializing its portfolio through three business units: Fusion, Power Solutions and Life Sciences. The company says it keeps its focus on developing new technology solutions.
The Power Solutions unit applies fusion-derived, microsecond-scale power control to highly dynamic AI compute loads through its flagship offering, TAE PowerFabric. Upon closing, the companies say TAE will continue to address growing demand for reliable, abundant and affordable electricity, including power for advances in artificial intelligence.
The Life Sciences unit set out to use TAE’s fusion-derived particle accelerator technology to achieve a step change in radiation therapy. It targets difficult-to-treat cancers using biologically-targeted boron neutron capture therapy, known as BNCT.
Founded in 1998, TAE Technologies says its north star is to deliver reliable, abundant and clean fusion technology as a cost-competitive part of the future global energy supply. Young companies seeking capital face their own tests, as the most fundable companies list shows.
Risks Named by the Companies
The companies’ forward-looking statements list several risks. The merger may not be completed on the anticipated timeline or at all, including if required shareholder, stockholder or regulatory approvals are not obtained.
They also cite the significant capital required to develop and commercialize TAE’s fusion technology. Another risk is that TAE may be unable to develop or commercialize a viable fusion reactor on its expected timeline or at all. The statements also reference the Da Vinci prototype power plant.
The next step is for the SEC to declare the Registration Statement effective. Shareholders can already obtain the Registration Statement free of charge, and the definitive proxy statement, prospectus and consent solicitation statement will follow once available.
