Trident completes $15M equity raise at steep discount, paid in stablecoins

Trident Digital Tech Holdings has completed a $15 million equity raise at a steep discount to its recent Nasdaq market price. The company sold 30 million Class B ordinary shares at $0.50 each, compared with a September 25 closing price of $1.46, a discount of about 66 percent.

The offering follows Trident regaining compliance with Nasdaq’s $35 million minimum market value requirement. Nasdaq said compliance was restored after the company maintained a market value of at least $35 million for 10 consecutive business days.

Trident’s revenue fell from $1.48 million in 2023 to just under $161,000 in 2025, a decline of about 89 percent, according to its annual SEC filing. Its net loss widened from $4.77 million to $22.76 million over the same period.

During that revenue decline, Trident has struck deals to provide technology for the Democratic Republic of Congo’s DRCPass and launch a joint venture in Ghana to connect the country’s MSME sector with its formal financial system.

Trident’s TDTHAI platform for sovereign digital infrastructure launched a few months ago, but after the stock rose to $3.77 on June 2, investor enthusiasm has been tepid or worse.

Purchasers paid for the offering in USD Coin, Tether or a combination of the two. Trident says it plans to hold the stablecoins as part of its digital asset reserve and may convert some or all of them into U.S. dollars for working capital and general corporate purposes.

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digital identity  |  financial results  |  stocks  |  Trident