ALT5 Sigma appoints World Liberty Financial CEO as chairman

LAS VEGAS - ALT5 Sigma Corporation (NASDAQ:ALTS), whose stock has surged 178% over the past year and currently trades at $5.74, announced on Wednesday the appointment of Zach Witkoff, Co-Founder and CEO of World Liberty Financial, Inc. (WLFI), as Chairman of its board of directors, effective upon closing of its previously announced $1.5 billion offering. According to InvestingPro analysis, the company appears undervalued at current levels.

The appointment coincides with ALT5’s launch of its $WLFI Treasury Strategy, through which the company will hold approximately 7.5% of the total supply of $WLFI tokens. WLFI is the company behind USD1, which the firm describes as a rapidly growing stablecoin.

ALT5 is currently trading at a multiple net asset value (mNAV) of 0.92x based on market prices as of August 12, according to the company.

The leadership changes include additional appointments of Eric Trump as a Director, Zak Folkman as Board Observer, and Matt Morgan as Chief Investment Officer.

In a statement, Witkoff outlined the company’s strategy of issuing equity at prices above mNAV and using proceeds to acquire additional digital assets, with the goal of growing tokens per share. He indicated the company has no current plans to access its at-the-market facility at current mNAV levels.

ALT5 Sigma describes itself as a fintech providing blockchain technologies for digital asset services. The company reports it has processed over $5 billion in cryptocurrency transactions since its founding in 2018. With annual revenue of $18.05 million and a FAIR Financial Health Score from InvestingPro, the company shows promising fundamentals despite operating in a volatile sector.

The company is also advancing the separation of its biotech business, which will continue under Alyea Therapeutics Corporation, focusing on non-addictive pain-relieving drugs.

This article is based on a press release statement from ALT5 Sigma Corporation.

In other recent news, ALT5 Sigma Corporation has secured a substantial $1.5 billion investment led by World Liberty Financial. This investment brings significant leadership changes, with Zach Witkoff, co-founder and CEO of World Liberty Financial, taking on the role of Chairman of ALT5’s board of directors. Additionally, Eric Trump has joined as a director, and Zak Folkman will serve as a board observer. In another development, ALT5 Sigma has partnered with Voltage to enable instant Bitcoin payments using the Lightning Network. This collaboration allows ALT5’s clients to execute Bitcoin transactions quickly and at a low cost, addressing the demand for rapid and scalable payment solutions. The integration aims to improve user experience by minimizing costs and operational friction, particularly for high-frequency digital payment platforms. These recent developments highlight ALT5 Sigma’s strategic moves to enhance its service offerings and leadership structure.

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