Quick take:
The private placement transaction was completed in the form of $WLFI tokens from World Liberty Financial.
ALT5 plans to implement a $WLFI Treasury Strategy, holding approximately 7.5% of the total supply of $WLFI tokens when the offer closes.
Zach Witkoff, Co-Founder and CEO of World Liberty Financial, will become Chairman of the Board of Directors of ALT5, with Eric Trump also a Director on the board.
Trump Family-associated World Liberty Financial is leading a $750 million private placement offering by ALT5 Sigma Corporation (NASDAQ: ALTS), as part of a share purchase offering by the Nasdaq-listed tokenization company to raise $1.5 billion. ALT5 sold 100 million shares of its common stock in the private placement for $7.5 per share, according to a press release seen by NFTgators.
The company also sold another 100 million shares in a direct share offering at $7.5 per share for combined gross proceeds of $1.5 billion. ALT5 plans use net proceeds from both offers to implement a $WLFI Treasury Strategy, holding approximately 7.5% of the total supply of $WLFI tokens when the offer closes on or about August 12, subject to the satisfaction of customary closing conditions.
Some of the capital will also be used to settle existing litigation, pay existing debt, fund the company’s existing business operations, and for working capital and general corporate purposes, the company said.
The private placement transaction was completed in the form of $WLFI tokens from World Liberty Financial.
According to the announcement on Monday, Zach Witkoff, Co-Founder and CEO of World Liberty Financial, will become Chairman of the Board of Directors of ALT5, with Eric Trump also a Director on the board.
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The post World Liberty Financial Taps Publicly-Listed ALT5 Sigma to Launch $1.5B WLFI Token Treasury appeared first on NFTgators .