Summary
- Rectitude Holdings said it will actively pursue a Bitcoin accumulation strategy.
- The company said it will raise up to $32.62 million through the issuance of common stock, and plans to use the majority of the funds to purchase Bitcoin.
- Rectitude said it will not accumulate other digital assets besides Bitcoin.
Rectitude Holdings, a safety equipment company listed on Nasdaq, is seeking to accumulate Bitcoin (BTC).
On the 8th (local time), according to GlobeNewswire, Rectitude said in a press release, "We will actively pursue a Bitcoin accumulation strategy," and that "we plan to raise up to $32.62 million through the issuance of common stock." Most of the funds raised will be used to purchase Bitcoin.
Rectitude said, "Bitcoin is a reliable store of value," and "we do not plan to accumulate other digital assets (cryptocurrencies) besides Bitcoin."
Son Min
sonmin@bloomingbit.ioHello I’m Son Min, a journalist at BloomingBit
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