DDC Enterprise Restricted (NYSE: DDC) has officially closed its $528 million financing deal to expand its company Bitcoin technique. The funding, led by Anson Funds with participation from Animoca Manufacturers, Kenetic Capital, and others, is among the largest Bitcoin-focused capital raises by a NYSE-listed firm.
“This most mixture $528 million capital dedication marks a watershed second for DDC,” mentioned Norma Chu, Founder, Chairwoman, and CEO of DDC. “With premier establishments comparable to Anson Funds, Animoca Manufacturers, and Kenetic Capital backing our imaginative and prescient, we imagine we’ve unprecedented capability to execute our mission of constructing one of many world’s most precious company Bitcoin treasuries and turning into a high world Bitcoin holder.”
The financing contains three key parts:
- $26 million PIPE funding from digital asset traders, additionally changing debt to fairness to strengthen DDC’s stability sheet.
- $25 million in convertible notes from Anson Funds, with an extra $275 million dedicated for future tranches.
- $2 million non-public placement and a $200 million fairness line of credit score from Anson Funds to provide DDC ongoing capital flexibility.
Maxim Group LLC acted as unique monetary advisor on the deal. In keeping with the corporate, proceeds can be used particularly to accumulate extra Bitcoin.
This transfer secures DDC’s aggressive pivot into the Bitcoin house, whereas nonetheless working its meals enterprise, together with manufacturers like DayDayCook, Nona Lim, and Yai’s Thai. Bitcoin is now a core reserve asset for the agency.
“DDC Enterprise is strongly positioned because the definitive publicly-traded car for concentrated Bitcoin publicity and worth creation,” Chu added. “My focus can be on rising our BTC treasury and delivering enticing BTC yield persistently for our shareholders.”
This announcement follows DDC’s earlier update in June the place the corporate confirmed its intent to lift $528 million by three separate securities buy agreements. On the time, Chu known as it “a defining second” and mentioned the funding was “a robust mandate” for world Bitcoin accumulation.