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ALT5 Sigma Raises $1.5 Billion for WLFI Treasury - Unchained
ALT5 Sigma Corporation is raising $1.5 billion through a combination of a registered direct stock offering and a concurrent private placement to fund a corporate treasury centered on World Liberty Financial (WLFI) tokens.
The company plans to sell 200 million shares at $7.50 each, equally split between the two offerings.
ALT5 Sigma is a fintech company with two main offerings: ALT5 Prime, an electronic over-the-counter trading platform for digital assets, and ALT5 Pay, a cryptocurrency payment gateway.
As per the terms of the deal, ALT5 Sigma will receive $750 million worth of WLFI tokens at a price of $0.20 per token in exchange for shares and warrants, while the other $750 million paid in cash
This story is an excerpt from the Unchained Daily newsletter.
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After the deal closes, ALT5 will own about 7.5% of the total WLFI supply in its treasury. World Liberty Financial cofounder Zach Witkoff and President Donald Trump’s son Eric Trump will also join ALT5’s board of directors.
ALT5 shares dropped 26% after the announcement, reversing after a 35% rally between last Wednesday and Friday