mF International to raise $500 million in private placement…will buy Bitcoin Cash
Summary
- Nasdaq-listed mF International said it will conduct a $500 million private placement.
- It said the proceeds will be primarily used to purchase Bitcoin Cash (BCH) and build a digital asset treasury strategy.
- It said it has entered into a registration rights agreement to allow investors to resell in this private placement.
Nasdaq-listed mF International said on the 21st (local time) that it will conduct a $500 million private placement to build a digital asset treasury strategy (DAT).
The private placement is structured to issue 50 million Class A common shares and pre-funded warrants at $10 per share, with a target of raising a total of $500 million excluding offering expenses. The transaction is expected to be completed around the 1st of next month.
The company said it will primarily use the proceeds to purchase Bitcoin Cash (BCH) and as initial capital for its digital asset treasury strategy, and will use some for working capital and general corporate purposes.
Because the securities are being sold in a private placement, they are not subject to registration under U.S. securities laws. The company has entered into a registration rights agreement to permit investors to resell the securities.
Doohyun Hwang
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