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Vestand Signs Agreement to Acquire Controlling Interest in AI Mindbot Equity
Globenewswire· 2025-09-18 12:47
Core Insights - Vestand Incorporated has signed a share purchase agreement to acquire 21,000 shares of AI Mindbot Equity for approximately USD $6.44 million, establishing a controlling stake of over 89% in AI Mindbot [1][4] - This acquisition aims to create a strategic bridge between the crypto treasury markets of the United States and Korea, positioning Vestand as a key player in the Global Crypto Treasury Alliance [2][6] - The transaction is expected to enhance Vestand's credibility and growth potential by integrating Korea's dynamic crypto market with the institutional credibility of a U.S.-listed company [4][6] Acquisition Details - The acquisition involves purchasing shares from Hyper Corporation through Vestand's wholly owned subsidiary, Vestand Korea Company Limited [1] - AI Mindbot is the largest shareholder of Xcure Corp., a Kosdaq-listed company specializing in smart card and mobile security technology [1] - Vestand Korea will replace four out of seven directors of Xcure Corp. at an extraordinary shareholders' meeting scheduled for November 7, 2025 [10] Market Opportunity - Korea is recognized as a top global crypto hub with an annual trading volume of approximately KRW 663 trillion, and over 16 million investors engaged in cryptocurrency [7] - The absence of spot Bitcoin ETFs in Korea provides listed companies like Vestand a first-mover advantage in the crypto investment space [7] - Tax benefits favor investments through listed companies, as they incur a 0.15% transaction tax compared to a 20% capital gains tax on direct digital asset investments starting in 2027 [7] Strategic Vision - Vestand aims to leverage the combination of real-world assets and digital assets to create a hybrid investment platform that captures stable cash flows and growth potential [6][13] - The company plans to expand its ETH Treasury operations and digital asset holdings through various capital-raising strategies, including equity and security token offerings [13] - Vestand seeks to redefine its market position from a simple asset-holding company to a growth-oriented platform with a focus on sustainable revenue and cash flow [4][13]
Mercurity Fintech Holding Inc. Announces Pricing of Registered Direct Offering of $43.70 Million For Crypto Treasury Strategy
Globenewswire· 2025-07-21 18:12
Core Viewpoint - Mercurity Fintech Holding Inc. has announced a registered direct offering of ordinary shares and warrants to support its crypto treasury strategy and development of on-chain financial tools [1][4]. Group 1: Offering Details - The company will issue 12,485,715 ordinary shares and 12,485,715 warrants at an effective offering price of $3.50 per share [3]. - The warrants will have an exercise price of $3.50 per share and a term of five years [3]. - The offering is expected to close on or about July 22, 2025, subject to customary closing conditions [3]. Group 2: Participants and Advisors - Participants in this financing include LTP, Syntax Capital, OGBC Group, and Blockstone Capital, which are firms operating primarily in the digital assets and blockchain sector [2]. - D. Boral Capital LLC is acting as the sole placement agent for the offering [4]. Group 3: Use of Proceeds - The net proceeds from the offering will be used to advance the company's crypto treasury strategy, including ecosystem staking, tokenized yield instruments, and institutional-grade on-chain financial infrastructure, as well as for working capital and general corporate purposes [4]. Group 4: Company Overview - Mercurity Fintech Holding Inc. is a fintech group powered by blockchain infrastructure, offering technology and financial services [7]. - The company aims to bridge traditional finance and digital innovation across digital asset management, financial advisory, and capital markets solutions [7].