DDC Enterprise Secures $528M Securities Purchase Agreement to Expand Bitcoin Treasury
Quick take:
- All of the capital raised will go towards expanding DDC’s Bitcoin treasury, with $200 million raised via an equity line of credit.
- Approximately $26 million will be raised via an equity PIPE with DDC issuing 2,435,169 Class A Ordinary shares at an average price of $10.30 per share.
- An additional $300 million will be raised via the issuance of a convertible note and a $2 million equity placement.
DDC Enterprise Ltd. (NYSE: DDC) has secured a $528 million securities purchase agreement to advance the company’s mission of “establishing one of the most valuable bitcoin holdings.”
The fundraising has attracted interest from Anson Funds, Animoca Brands, Kenetic Capital, QCP Capital, and a network of leading institutional funds and individual Bitcoin investors.
Approximately $26 million will be raised via an equity PIPE with DDC issuing 2,435,169 Class A Ordinary shares at an average price of $10.30 per share, with an additional $200 million raised via an equity line of credit, secured with Anson Funds. The $200 million is designed to offer DDC maximum flexibility in accessing capital for dedicated BTC stacking, according to a press release seen by NFTgators.
The company also said $300 million will be raised via the issuance of a convertible note and a $2 million equity placement.
All of the capital raised will go towards expanding DDC’s Bitcoin treasury. “Our vision is unequivocal: we are building the world’s most valuable Bitcoin treasury.” — Norma Chu, Founder, Chairwoman, and CEO of DDC Enterprise.
“This investment by Anson Funds and the group of PIPE investors is a resounding validation of Bitcoin’s important role in future corporate balance sheets,” added Chu.
The announcement comes at a time when several publicly listed companies are looking to build digital asset treasuries amid anticipation of clear regulations for the industry in the U.S.
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