Mill City Ventures III, Ltd. Announces $450 million Private Placement, Launches Sui Financial Strategy
2025-07-28 12:31:47
On July 28, according to Businesswire, non-bank lender and financial company Mill City Ventures III, Ltd. (NASDAQ: MCVT) announced that it has signed a securities purchase agreement to invest in public equity as a private investment, purchasing and selling 83,025,830 common shares at a price of $5.42 per share, with an estimated total proceeds of approximately $450 million (excluding placing agent fees and other issuance fees). Hedge fund Karatage served as the lead investor, and the Sui Foundation also provided an equal investment. The offering is expected to close around July 31, 2025. The company plans to use approximately 98% of the net proceeds from the private placement to acquire SUI, the native token of the Sui blockchain, and approximately 2% of the net proceeds from the private placement to support the company's short-term lending business. SUI will serve as the company's main financial reserve asset.
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