NASDAQ-listed company ATA Creativity Global (Nasdaq: AACG) announced that it has signed an agreement with Baby BTC Strategic Capital, a special fund led by the Babylon Foundation, which will take a controlling stake in ATA for a total of $100 million, including $30 million in new shares and $70 million in warrants, and will restructure the board of directors.
In addition, ATA will transform into the world's first publicly listed platform focused on the BTCFi ecosystem, working closely with the Babylon project (currently staking 45,000 BTC). The company stated that it plans to expand its Bitcoin staking business, purchase native tokens of the Babylon ecosystem, Baby tokens, and invest a portion of the profits in Bitcoin. The company plans to continue purchasing these assets through future stock and convertible bond issuances.
