Amber International raises over a quarter of $100m goal to boost crypto holdings
Main Idea
Amber International completed a $25.5 million private placement to support its $100 million crypto reserve fund, with investments from major backers and plans to include major cryptocurrencies.
Key Points
1. Amber International raised $25.5 million in a private placement at $10.45 per share, a 5% discount to its three-day volume-weighted average trading price.
2. The funds will contribute to the company's goal of establishing a $100 million crypto reserve fund.
3. The reserve will include major cryptocurrencies like Bitcoin, Ethereum, Binance Coin, XRP, and Sui.
4. Investors in the private placement included CMAG Funds, Mile Green, Pantera Capital, Choco Up, and Kingkey Financial.
5. Amber International's stock saw modest gains of 0.12%, fluctuating between $8.40 and $9.56 on the day of the announcement.
Description
Amber International announced the completion of a $25.5 million private placement backed by major investors. The funds will go to supporting the firm’s $100 million crypto reserve target. On July 3, the Singaporean -based firm has managed to reach more than a quarter of its initial goal to establish a diversified crypto reserve fund worth $100 million. The private placement was valued at $10.45 per share, deducted from a 5% discount to the company’s three-day volume weighted average trading pric...
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