DDC Enterprise Restricted (NYSE: DDC) has formally closed its $528 million financing deal to increase its company Bitcoin technique. The funding, led by Anson Funds with participation from Animoca Manufacturers, Kenetic Capital, and others, is without doubt one of the largest Bitcoin-focused capital raises by a NYSE-listed firm.
“This maximum aggregate $528 million capital commitment marks a watershed moment for DDC,” mentioned Norma Chu, Founder, Chairwoman, and CEO of DDC. “With premier institutions such as Anson Funds, Animoca Brands, and Kenetic Capital backing our vision, we believe we have unprecedented capacity to execute our mission of building one of the world’s most valuable corporate Bitcoin treasuries and becoming a top global Bitcoin holder.”
The financing consists of three key elements:
- $26 million PIPE funding from digital asset buyers, additionally changing debt to fairness to strengthen DDC’s stability sheet.
- $25 million in convertible notes from Anson Funds, with a further $275 million dedicated for future tranches.
- $2 million non-public placement and a $200 million fairness line of credit score from Anson Funds to provide DDC ongoing capital flexibility.
Maxim Group LLC acted as unique monetary advisor on the deal. In line with the corporate, proceeds shall be used particularly to accumulate extra Bitcoin.
This transfer secures DDC’s aggressive pivot into the Bitcoin area, whereas nonetheless working its meals enterprise, together with manufacturers like DayDayCook, Nona Lim, and Yai’s Thai. Bitcoin is now a core reserve asset for the agency.
“DDC Enterprise is strongly positioned as the definitive publicly-traded vehicle for concentrated Bitcoin exposure and value creation,” Chu added. “My focus will be on growing our BTC treasury and delivering attractive BTC yield consistently for our shareholders.”
This announcement follows DDC’s earlier replace in June the place the corporate confirmed its intent to lift $528 million by way of three separate securities buy agreements. On the time, Chu known as it “a defining moment” and mentioned the funding was “a strong mandate” for world Bitcoin accumulation.
