Digital World Acquisition Corp DWAC.O, the buyer company that agreed to take former U.S. President Donald Trump’s social media platform public, is nearing a $50 million financing deal, people familiar with the matter told Reuters on Thursday.

The deal, which could be announced in the coming days, is based on convertible bonds and will help fund DWAC as it seeks to complete a merger with Trump Media & Technology Group (TMTG), owner of social media platform Truth Social, the sources said. .

Shares of DWAC ended Thursday’s trading session up 4.4% at $47.66 on the news. They have nearly tripled since Jan. 15 — when Trump won the Iowa caucuses en route to the Republican presidential nomination — with investors suggesting his re-emergence as a major political figure will make Truth Social more valuable.

Investment firms Anson Funds, All Blue Capital and Mangrove Partners have offered to buy, the sources added, cautioning that the terms and dates of the deal could still change.

The sources spoke on condition of anonymity because details of the deal are confidential. DWAC Executive Director Eric Swider declined to comment. Representatives of Anson Funds, All Blue Capital and Mangrove Partners did not comment.

Last month, DWAC announced it had raised $50 million in convertible bonds after canceling a $1 billion private investment in public equity (PIPE) transaction.