ALT5 Sigma Corporation (NASDAQ:ALTS) saw its stock jump 7% Wednesday following the successful closing of a $1.5 billion registered direct offering, paired with a private placement, to fund its World Liberty Financial (WLFI) Treasury Strategy.
The digital asset payments and trading company executed the transactions with leadership from World Liberty Financial and participation from prominent institutional investors and crypto-focused venture capital firms. ALT5 Sigma intends to retain roughly 7.5% of the total WLFI token supply as part of its treasury strategy.
The transaction also brought changes to the company’s leadership. World Liberty Financial co-founder and CEO Zach Witkoff has been appointed Chairman of ALT5’s board of directors. Eric Trump joined as a director, while Zak Folkman, co-founder and COO of World Liberty Financial, will serve as a board observer. Matt Morgan has been named Chief Investment Officer of ALT5.
The offerings were conducted at-the-market in line with Nasdaq regulations, with A.G.P./Alliance Global Partners acting as sole placement agent. Kraken has been selected to serve as Asset Manager for the initiative.
ALT5 Sigma Corporation stock price
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