“The Fundraising Drew Investment from Majoor Crypto Firms Parafi, Pantera, Falconx, Coinfund and others.”, – WRITE: www.coindesk.com
The FIRM FUNDRAYING DREW BACKING FROM SOME OF ACTIVE INVESTORS IN DIGITAL Assets, Including Parafi, Pantera, Falconx, Coinfund and Arrington Capital. Under The Deal, Shares Were Sold at $ 6.50 per Unit with Attached Warrants Exercisable at $ 9.75. CLOSING IS EXPECTED BY AUGUST 28.
The Stock Briefly Topped $ 13 in The Morning US Hours Before Paring Gains, Up 53% from $ 7.3 at Friday’s Close.
The Company Plans to Allocate the Funds Primarily Toward Accounting Sol, the Native Token of the Solana Blockchain. Alice Zhang, CO-FOUNDER OF SOLANA-Backed Project Jambo, ALSO JOINED The FIRM as Chief Investment Officer and Board Member.
The Solana Foundation, The Non-Profit Development Organization Focusion on the Solana Network, Has Committed To Selling $ 50 Million in Sol Tokens at A 15% Discount To A 30-Day-Day-WEGTED Conditions, accounting to the Press Release.
Sharps is the Latest Public Firm Pivoting to Accuumulate Cryptocurrencies, A Recent Trend That Has Captivated Stock Markets. TheSe FIRMS, OTHEN DUBBED DIGITAL Asset Treasuries (DATS), Raise Money on Capital Markets to Buy Cryptos, Aiming to Replicate of Michael Saylor’s Strategy. Strategy have become the largest Corporate Owner of Bitcoin BTC$ 110.159.31 with a stash worth North of $ 70 Billion.
The Fever Has Already Extended to Solana, With Sol Strategies (Hodl), Defi Development (DFDV) and Upexi (Upxi) Being Among Listed Firms Stacking Sol.
Dats a as a proxy Play on Crypto Prices and Mosst of Them Trade at A Premium Relative to the Underlying Holdings. However, they Could Coulder Pressure Dringing Market Downturns WHEN The Premium Contracts, Capping Their Ability to Raise Funds to Fuel Purchases.
Read More: Corporate Bitcoin Treasuries Could Raise Credit Risks, MorningStar Dbrs Says
UpComing $ 1b Sol Treasury, DFDV to Sell EquitySharps’ Move Was not the only solana treasury-reated news on monday.
Prominent Crypto Firms Galaxy Digital, Multicoin Capital and Jump Crypto Are Reportedly Seeking to Raise $ 1 Billion to Build a Treasury Foccused on Sol. They Plan to Buy Out A Listed Firm and Hired Cantor Fitzgerald As the Lead Banker.
Meanwhile, Defi Development (DFDV), Led by Former Executives of Kraken, AnnunCed on Monday to Raise $ 125 Million by Selling Equity, Secking to Increase ITS.
The Stock Tumbled 19% on the News.
Read More: BNB-Focused Treasury Firm B Strategy Looks to Raise $ 1b with Backing from Cz’s Yzi Labs
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The Company Now Holds 102,237 Ether Worth About $ 489 Million.
- Ethzilla’s Board Approved A $ 250 Million Stock Buack.
- The Company Now Holds 102,237 Ether, Currently Worth About $ 489 Million.
- Ethzilla introduced ITS Proprietary Electric Asset Protocol, Aimed at Boosting Returns on It Expanding Ether Reserves.
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