Nasdaq-listed 'Endra' starts $14 million digital asset accumulation…Hyperliquid, etc.

Nasdaq-listed biotech company Endra Life Sciences (ENDRA Life Sciences, hereinafter Endra) said on the 13th (local time) that it will begin a new digital asset financial strategy together with digital asset manager Arca Investment Management.

According to foreign media, Endra will start this digital asset financial strategy through a private placement of up to $14.4 million. The initial fundraising amount is about $4.9 million. It will raise funds through 744,340 pre-funded warrants and 1,488,680 warrants. The new share issue price is $6.57 per share, the warrant exercise price is $6.32, and the maturity is five years.

Endra plans to invest the majority of the raised funds in digital assets. Specifically, Endra's investment targets are decentralized exchange (DEX) protocols and derivative tokens, such as Hyperliquid (HYPE). The remaining funds will be invested in ultrasound (TAEUS) imaging research related to lipid metabolic liver disease.

In addition, for this strategy Endra plans to appoint Jeff Dorman, Arca's chief investment officer (CIO) and a former Merrill Lynch and Citadel executive, to the digital asset advisory board.

Meanwhile, on the day Endra closed at $8.12 on the Nasdaq, up 25.31% from the previous day.