Hong Kong-based DDC Enterprise has announced it has entered into three securities purchase agreements that could generate up to $528 million in gross proceeds, excluding placement agent fees and offering expenses.
The capital raise features participation from institutional investors, including Anson Funds, Animoca Brands, Kenetic Capital, QCP Capital, and a network of prominent Bitcoin investors.
Embracing Bitcoin Treasury Strategy
According to the company’s official press release, nearly all proceeds will be used to expand its Bitcoin treasury. The funding includes a $26 million equity PIPE investment through subscription agreements with Animoca Brands, Kenetic Capital, QCP Capital, and notable individuals like Jack Liu and Matthew Liu, co-founder of Origin Protocol.
DDC said that it expects to issue up to 2,435,169 Class A Ordinary shares at an average price of $10.30 per share, with a 180-day lock-up period. Additionally, DDC has secured a $200 million equity line of credit with Anson, allowing the company flexible access to capital for Bitcoin accumulation, subject to future registration and market conditions.
DDC isn’t alone in this approach; Fold Holdings is also pursuing a similar Bitcoin-focused capital strategy. The Arizona-based publicly traded bitcoin financial services company, Fold, has secured a $250 million equity purchase facility, which has granted it the option to issue and sell common stock at its discretion. The company plans to use net proceeds primarily to acquire additional Bitcoin for its corporate treasury. Utilization of the facility will be determined by SEC registration and other conditions.
BitMine Immersion Technologies, too, has joined the wave of firms committing capital directly into Bitcoin holdings. The Nevada-based company announced completing Bitcoin purchases using the full $16.34 million in net proceeds from its recent stock offering. The company acquired 154.167 BTC at an average price of $106,033 per coin. CEO Jonathan Bates confirmed the move aligns with BitMine’s commitment to allocate 100% of the raised capital to building its Bitcoin treasury.
Eyenovia Embraces HYPE in Treasury Strategy
While Bitcoin remains the primary reserve asset for many firms, some are exploring emerging tokens to capture broader crypto exposure.
Digital ophthalmic technology company Eyenovia announced a $50 million private placement to launch a cryptocurrency treasury strategy focused on the HYPE token, native to Hyperliquid. The company becomes the first U.S.-listed firm to hold HYPE in its treasury. Hyunsu Jung was appointed Chief Investment Officer and Board Member. If warrants are fully exercised, the transaction could yield up to $150 million.
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