Mill City Ventures III, listed at NASDAQ, is looking to collect up to $ 500 million thanks to a new agreement on shares to extend its Treasury of SUP.
The main dishes to remember:
- Mill City plans to raise $ 500 million to extend its Treasury of SUP after an initial investment of $ 450 million.
- The title fell by more than 11% after the announcement, despite the 165% increase since July 24.
- Mill City is positioning itself as the first Treasury of Institutional Quality with official support.
The announcement occurred only a few days after Mill City obtained $ 450 million via the sale of 83 million shares to institutional investors, notably Pantera Capital, Electric Capital, Parafi Capital and Falconx.
The company used these funds to buy 76.2 million tokens followed at $ 276 million. The remaining capital will support its existing short -term loan operations.
Mill City Stock flows after announcing a line of participation of $ 500 million
Financial company’s shares dropped from 11.4% to $ 4.91 Friday after the announcement, with exchanges after working hours of 4.28%, according to Google Finance.
“This line of actions is intended to give us the power of fire to develop our position as the only Treasury on the market with an official relationship of the Foundation Su,” said Stephen Mackintosh, Director of Investments at Mill City.
He described this decision as a step towards the offer of an institutional exposure to the SUP ecosystem via public procurement.
Mill City’s strategy alignments with an increasing trend between public enterprises to diversify their cryptographic treasury bills beyond Bitcoin and Ethereum.
In recent weeks, companies have added BNB, Solana and XRP to their wallets.
However, Mill City is positioning itself as a specialized Treasury, aimed at enjoying the concentration of layer 1 blockchain on the low -latency evolving infrastructure for AI and game applications.
The new stock line of $ 500 million in the company was organized with Alliance Global Partners and aims to scale its position in Suit.
While investors initially reacted negatively, the wider trajectory of MCVT’s actions remains optimistic, it is still up 165% since July 24, when the SUD initiative was revealed for the first time.
Galaxy Asset Management Supervise Su Holdings by Mill City as official director of the Treasury.
At the time of the drafting of this document, SU is negotiated at $ 3.45, down 2.4% during the day, reflecting the slower slowdown.
Crypto treasure bills do not really buy cryptography
An increasing number of listed companies collects hundreds of millions of dollars to build cryptographic treasury bills, but an analyst says that many do not really buy digital assets on the free market.
As indicated, the Crypto analyst directed Neuner said that cryptographic cash companies act less like buyers and more exit vehicles for cryptographic initiates.
Instead of buying assets directly from scholarships, these companies often receive crypto contributions from existing holders, in exchange for shares which later negotiate in massive public prime premiums.
Skepticism around the sustainability of the treasure cryptographic treasure also increases.
Last month, Glassnode’s main analyst James Check raised concerns concerning the longevity of the company’s Bitcoin Treasury strategy, arguing that easy gains may already have left for new entrants as the mature market.
The warning echoes recent comments by Matthew Sigel, head of digital asset research in Vaneck, who expressed his concerns about the Bitcoin Treasury strategies adopted by certain listed companies.
The increase of $ 500 million on the SUP strategy of Mill City Eyes, listed at the SUP strategy, appeared first on Cryptonews.
