DayDayCook's $528M Bitcoin Buy
DayDayCook to Expand Bitcoin Treasury with $528 Million Raise
DayDayCook (DDC Enterprise Limited), a publicly traded wellness-focused meal solutions company, announced a significant investment in Bitcoin. The company plans to raise up to $528 million in gross proceeds to bolster its Bitcoin holdings.
Key Takeaways
- DayDayCook will use the funds to acquire Bitcoin, expanding its corporate treasury.
- Funding includes equity investments, convertible notes, and an equity line of credit from prominent investors.
- Investors include Anson Funds, Animoca Brands, Kenetic Capital, QCP Capital, and others.
The funding strategy is multifaceted:
- $26 million equity PIPE investment: From Animoca Brands, Kenetic Capital, QCP Capital, and the Liu brothers (co-founder of Origin Protocol).
- $300 million convertible secured note facility + $2 million private equity placement: Led by Anson Funds.
- $200 million equity line of credit: Also provided by Anson Funds, specifically for Bitcoin purchases.
Norma Chu, Founder, Chairwoman & CEO of DDC Enterprise, stated, "This capital commitment of up to $528 million represents a strong mandate to execute an ambitious corporate Bitcoin accumulation strategy globally."
DayDayCook's initial Bitcoin purchase was 21 BTC late last month. The treasury has since grown to 138 BTC, currently valued at approximately $14 million.
Following the announcement, DDC Enterprise shares experienced a significant rise, up approximately 165% in the past 30 days (according to Yahoo Finance). However, the stock remains down about 95% from its initial trading price after its New York debut.
Note: Investing in Bitcoin carries inherent risks. This information is for educational purposes only and does not constitute financial advice.
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