The Bitcoin (BTC) wave seems to be sweeping across the corporate world, with DDC Enterprise and several other firms joining the fray. Hong Kong’s DDC Enterprise recently disclosed that it has entered into three securities purchase agreements. These agreements are projected to yield up to $528 million in gross proceeds, excluding placement agent fees and offering expenses.
A range of institutional investors, such as Anson Funds, Animoca Brands, Kenetic Capital, QCP Capital, and a host of Bitcoin mavens, have contributed to this capital raise. As per the official press release, the firm plans to channel nearly all proceeds towards expanding its Bitcoin treasury. This includes a $26 million equity PIPE investment through subscription agreements with Animoca Brands, Kenetic Capital, and QCP Capital, among others.
The company also plans to issue up to 2,435,169 Class A Ordinary shares at an average price of $10.30 per share, subject to a 180-day lock-up period. Furthermore, DDC has secured a $200 million equity line of credit from Anson, which will offer the firm a flexible capital source for Bitcoin accumulation.
DDC is not alone in leveraging this approach. Fold Holdings, an Arizona-based Bitcoin financial services firm, has secured a $250 million equity purchase facility. This move will grant it the liberty to issue and sell common stock at its discretion, with the majority of the net proceeds earmarked for additional Bitcoin acquisitions.
BitMine Immersion Technologies, a Nevada-based firm, joins the growing list of companies investing directly in Bitcoin. The firm recently completed Bitcoin purchases using the full $16.34 million in net proceeds from its recent stock offering.
While many firms still consider Bitcoin as the primary reserve asset, some are exploring emerging tokens to capture a broader crypto exposure. Digital ophthalmic technology company Eyenovia has announced a $50 million private placement to initiate a cryptocurrency treasury strategy focused on the HYPE token.
