Hong Kong-Based Food Firm Secures $528 Million to Boost Bitcoin Treasury
DDC Enterprise Limited has raised $528 million to enhance its Bitcoin treasury, planning to purchase 5,000 Bitcoin over the next three years. The capital was raised through three securities sales, with participation from Anson Funds, Animoca Brands, and Kenetic Capital. The funding includes $26 million in private equity, $25 million from convertible notes, and $2 million from a private placement, alongside a $200 million equity line of credit. DDC has already acquired 138 Bitcoin, valued at $14.6 million, at an average price of $78,582 per coin. The company continues to operate its convenience food business, which includes brands like Omsom and Yai's Thai. DDC's stock recently traded at $10.59. The trend of companies adopting crypto treasury strategies has increased, with over 140 public firms holding a total of $90.9 billion in Bitcoin.
