Cross-Border E-Commerce Company DDC Enterprise to Raise $528 Million to Expand Bitcoin Reserves
On June 17, Businesswire reported that DDC Enterprise, a cross-border e-commerce company listed on the New York Stock Exchange, has announced that it has signed three securities purchase agreements and expects to raise up to $528 million after deducting placement agent’s fees and offering expenses from investors including Anson Funds, Animoca Brands, Kenetic Capital, QCP Capital, and others. Investors include Anson Funds, Animoca Brands, Kenetic Capital, QCP Capital, and others, and the proceeds will be used to expand its bitcoin reserves. The financing consists of three parts: a $26 million equity PIPE investment, a $300 million convertible secured note and $2 million equity private placement, and a $200 million equity line of credit.
BlockBeats previously reported that on June 12, DDC Enterprise (NYSE: DDC) announced that it had added 38 bitcoins to its holdings, increasing the company’s total bitcoin position to 138 bitcoins.