180 Life Sciences Completes $425 Million Private Financing to Launch ETH Treasury Strategy, Plans to Raise Additional $150 Million
BlockBeats News, August 11th, according to stocktitan, 180 Life Sciences (NASDAQ: ATNF) has successfully completed a $425 million private placement, to implement its Ethereum Treasury Strategy. The PIPE (Private Investment in Public Equity) transaction was priced at $2.65 per share, with this round of financing being led by Electric Capital and Harbour Island, with participation from notable cryptocurrency investment institutions such as Borderless Capital and Polychain Capital.
The company plans to use the raised funds mainly to purchase Ethereum (ETH) and launch an income-generating program managed by Electric Capital. This program will seek returns beyond traditional ETH staking through a combination of strategies including staking, lending, and providing liquidity. Additionally, the company has announced a significant governance framework adjustment, including the appointment of McAndrew Rudisill as Chairman of the Board, as well as the addition of multiple independent directors.
Following this PIPE financing, the company may further raise up to $1.5 billion through the issuance of fixed-income securities.
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