MEI Pharma announces $100M PIPE deal to add Litecoin to corporate treasury
The post MEI Pharma announces $100M PIPE deal to add Litecoin to corporate treasury appeared on BitcoinEthereumNews.com.
MEI Pharma announced Friday a $100 million private investment in public equity (PIPE) transaction to add Litecoin into its corporate treasury. The announcement is the first known instance of a publicly traded biotech company adopting Litecoin (LTC) as its primary reserve asset. Per a press statement published at 13:00 BTS, the investment round was led by Titan Partners Group and crypto trading firm GSR. MEI Pharma plans to raise gross proceeds of approximately $100 million through the sale of 29,239,767 shares of common stock, or pre-funded warrants, at $3.42 per share. The deal is expected to close on or around July 22, 2025, pending customary regulatory and closing conditions. As part of the transaction, the biotechnology firm will designate Litecoin creator Charlie Lee to its board of directors. GSR will also receive a board seat and take point in the company’s digital asset and treasury management advisory committee. MEI Pharma chooses LTC for its crypto treasury MEI previously announced it had done a review of business alternatives, which is now confirmed to have led towards blockchain and decentralized finance. The company has decided to anchor its treasury with LTC in cooperation with the Litecoin Foundation and GSR. “MEI is pleased to pioneer this innovative public company treasury strategy with GSR and Charlie Lee, the first to share our knowledge in the biotech sector,” said Frederick W. Driscoll, Chairman of the Board at MEI. “We believe this step positions the company well for a new phase of innovation.” Charlie Lee, who created Litecoin in 2011, said the coin has always been fast, secure, and decentralized, and it was exciting to see those principles embraced by a public company like MEI. “This milestone not only reflects growing institutional confidence in LTC but also sets the stage for broader adoption in traditional capital…
Filed under: News - @ July 18, 2025 4:34 pm