Brazilian fintech firm Meliuz (CASH3) **** plans to raise R180.08 million ($32.4 million) through an equity offering, according to a filing.
The funding is earmarked specifically for the purchase of bitcoin, aligning with the company’s recent strategic shift to incorporate bitcoin into its balance sheet.
The offering, priced at R7.06 ($1.27) per share, was about 5% less than Meliuz’s closing price of R7.43 on Thursday. The stock has fallen more than 5% in today’s trading.
📖 Related Reading
BTG Pactual served as the book-runner for the deal, according to the filing.
Earlier this year, Meliuz announced that the company plans to raise $78 million in equity to become “the first bitcoin treasury company” in Brazil.
The fintech company, which calls itself “3rd fastest growing shopping App in Brazil,” boasts about 41 million loyal users as of the first quarter of this year, according to a presentation. The company currently has a market cap of R647.08M ($116.5M), according to TradingView data.
🔗 You Might Also Be Interested In
AAVE Breaks Key Resistance as DeFi Sector Heats Up
The End of Bitcoin Maximalism
Digital Assets Are One Step Closer to Regulatory Clarity
💡 Stay updated with the latest cryptocurrency news and insights by following our website! 🔔 Bookmark this site to get first-hand blockchain and digital currency news!