CoinVoice has recently learned that, according to stocktitan, 180 Life Sciences (NASDAQ: ATNF) successfully completed a $425 million private placement financing to implement its Ethereum treasury strategy. The PIPE (Private Investment in Public Equity) deal was priced at $2.65 per share, with this round of financing led by Electric Capital and Harbour Island, and notable cryptocurrency investment firms such as Borderless Capital and Polychain Capital participating.
The company plans to primarily use the raised funds to purchase Ethereum (ETH) and launch a yield generation program managed by Electric Capital. This program aims to achieve returns that surpass traditional ETH staking through a combination of strategies such as staking, lending, and providing liquidity. Additionally, the company announced significant governance structure adjustments, including the appointment of McAndrew Rudisill as chairman of the board and the addition of several independent directors.
After completing this PIPE financing, the company may further raise up to $150 million by issuing fixed-income securities. [Original link]
