CaliberCos Inc (NASDAQ:CWD) shares surged 29% in premarket trading Wednesday after the company finalized a $15.9 million securities purchase and launched an At-The-Market (ATM) equity program.
The company sold 15,868 Series B Preferred shares at $1,000 each to an institutional investor. These preferred shares are convertible into Caliber common stock at $250 per share, carry no voting rights or dividends, and rank senior to common stock but junior to Series A and Series AA Preferred Stock.
In addition, Caliber activated its ATM program with roughly $10.3 million initially available under an existing $50 million shelf registration. This program enables the company to issue common shares at market prices to fund initiatives such as its Digital Asset Treasury strategy, which focuses on accumulating Chainlink (LINK) tokens.
“This perpetual preferred investment, paired with the flexibility of our new ATM program, strengthens Caliber’s balance sheet and provides us with capital to continue executing our strategy,” said Chris Loeffler, CEO of Caliber.
Caliber highlighted that it is the first Nasdaq-listed company to publicly unveil a treasury strategy centered on Chainlink. Lafferty & Co. is serving as lead sales agent for the ATM program, with Benchmark Company as co-manager.
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