DDC Enterprise Limited (NYSE: DDC) (“DDC” or the “Company”) today announced the successful initial closing of its previously announced financings of up to an aggregate of $528 million capital raise with Anson Funds, among others. These transformative financings, among the largest dedicated Bitcoin raises by a NYSE-listed company, are expected to provide DDC with immediate capital to execute its corporate Bitcoin accumulation strategy.
The initial closings of this comprehensive financing includes:
- Closing of $26 million strategic PIPE investment from premier Bitcoin and digital asset investors, which included conversion of outstanding debt to further strengthen the balance sheet.
- Funding of $25 million by issuance of first tranche of convertible notes (with committed additional capacity of up to $275 million available in subsequent drawdowns) with Anson Funds.
- Funding of $2 million in a private placement from Anson Funds in addition to a $200 million equity line of credit.
Norma Chu, Founder, Chairwoman and CEO of DDC Enterprise, stated, “this maximum aggregate $528 million capital commitment marks a watershed moment for 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.”
Maxim Group LLC acted as exclusive financial advisor for the transaction. The Company intends to use the net proceeds from this offering for the purchase of Bitcoin.
This press release shall not constitute an offer to sell or a solicitation of an offer to buy any of the securities described herein, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction.
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