Express
Mill City Ventures III, Ltd. Announces $450 Million Private Placement to Launch SUI Treasury Strategy
Summary: According to stocktitan, non-bank lending institution and financial company Mill City Ventures III, Ltd. (NASDAQ:MCVT) has announced that it has signed a securities purchase agreement to privately invest in public equity at a price of $5.42 per share, purchasing and selling 83,025,830 common shares, with an expected total proceeds of approximately $450 million (net of ...
According to stocktitan, non-bank lending institution and financial company Mill City Ventures III, Ltd. (NASDAQ:MCVT) has announced that it has signed a securities purchase agreement to privately invest in public equity at a price of $5.42 per share, purchasing and selling 83,025,830 common shares, with an expected total proceeds of approximately $450 million (net of placement agent fees and other offering expenses). Hedge fund Karatage is leading the investment, with Sui Foundation also providing a matching investment. The offering is expected to be completed around July 31, 2025. The company plans to use approximately 98% of the net proceeds from the private placement to acquire SUI, the native token of the Sui blockchain, and approximately 2% to support the company's short-term lending business. SUI will serve as the company's primary financial reserve asset.
Tags:
Link: Mill City Ventures III, Ltd. Announces $450 Million Private Placement to Launch SUI Treasury Strategy [Copy]
