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 got unprecedented capability to execute our mission of constructing one of many world’s most precious company Bitcoin treasuries and turning into a prime world Bitcoin holder.”
The financing consists of three key parts:
- $26 million PIPE funding from digital asset buyers, additionally changing debt to fairness to strengthen DDC’s stability sheet.
- $25 million in convertible notes from Anson Funds, with a further $275 million dedicated for future tranches.
- $2 million non-public placement and a $200 million fairness line of credit score from Anson Funds to offer DDC ongoing capital flexibility.
Maxim Group LLC acted as unique monetary advisor on the deal. In response to the corporate, proceeds will likely be used particularly to accumulate extra Bitcoin.
This transfer secures DDC’s aggressive pivot into the Bitcoin area, 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 will likely be on rising our BTC treasury and delivering engaging BTC yield constantly for our shareholders.”
This announcement follows DDC’s earlier update in June the place the corporate confirmed its intent to lift $528 million by way of three separate securities buy agreements. On the time, Chu referred to as it “a defining second” and mentioned the funding was “a robust mandate” for world Bitcoin accumulation.
