MEI Pharma to adopt Litecoin as treasury reserve in $100 million deal

SAN DIEGO - MEI Pharma, Inc. (NASDAQ:MEIP), currently trading at $4.50 with a market capitalization of approximately $30 million, announced it has entered into agreements for a $100 million private investment in public equity (PIPE) to fund a treasury strategy focused entirely on Litecoin (LTC), positioning itself as the first publicly traded company on a national exchange to hold LTC as a treasury reserve asset. According to InvestingPro data, the company maintains a strong liquidity position with cash exceeding debt levels, though it has been experiencing rapid cash utilization.

The company plans to sell approximately 29.2 million shares of common stock at $3.42 per share, with the transaction expected to close on or about July 22, 2025. The stock has shown remarkable momentum, delivering an 82.93% return year-to-date. InvestingPro analysis suggests the stock may have additional upside potential, with 14 more exclusive insights available to subscribers.

As part of the deal, Litecoin creator Charlie Lee will join MEI’s board of directors upon closing of the private placement. Digital asset market maker GSR, which served as a lead investor alongside Lee, will be appointed as the company’s treasury asset manager to oversee implementation of its Litecoin strategy. The company’s current financial health score is rated as "GOOD" by InvestingPro, with particularly strong momentum metrics.

The Litecoin Foundation participated in the investment round, along with several crypto venture capital firms including MOZAYYX, ParaFi, Hivemind, Primitive, RLH Capital, Delta Blockchain, and CoinFund.

"Litecoin was designed to be fast, secure, and decentralized — and it’s exciting to see those principles now being embraced by a public company like MEI," Lee said in the press release statement.

MEI Pharma, primarily a pharmaceutical company with several drug candidates in its portfolio, described the move as a significant milestone in its long-term strategic plan.

The securities are being offered in a private placement under an exemption from registration requirements of the Securities Act of 1933. The company has agreed to file a registration statement with the SEC for the resale of the shares.

Titan Partners Group, a division of American Capital Partners, is acting as the sole placement agent for the transaction.

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