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OFA Group (OFAL) entered into a committed equity purchase agreement with Atsion Opportunity Fund LLC for up to $100 million, with an option to expand to $200 million upon mutual agreement. The architecture and technology firm announced that Bitwise Asset Management will serve as strategic advisor for cryptocurrency treasury management under a memorandum of understanding.
Under the 36-month agreement, OFA can issue and sell ordinary shares to Atsion at prices based on prevailing market conditions, subject to volume and price limitations. The company will file a resale registration statement with the U.S. Securities and Exchange Commission before sales can begin under the equity facility.
Proceeds from the equity line will primarily support OFA’s cryptocurrency treasury strategy. Under Bitwise’s guidance, the company expects to initially evaluate strategic accumulation of Bitcoin, Solana, or Sui, while exploring yield and income-generating strategies.
"OFA’s collaboration with Bitwise as a strategic advisor to steward our capital deployment marks an important milestone for OFA’s long-term growth strategy," said Thomas Gaffney, OFA Group COO. "We expect this equity line facility to meaningfully enhance our capital flexibility as we look to execute a disciplined, high-conviction treasury management approach."
IB Capital LLC, an affiliate of I-Bankers Securities Inc., served as placement agent for the $100 million equity facility. Winston & Strawn LLP represented Atsion Opportunity Fund, while Ellenoff Grossman & Schole LLP represented OFA Group.
OFA Group provides architectural services including design and fit out services for commercial and residential buildings through its wholly owned subsidiary, Office for Fine Architecture Limited. The company is developing artificial intelligence technologies to enhance its architectural design services.
Additional details regarding the equity facility and Bitwise collaboration will be disclosed in a forthcoming Form 6-K filing with the SEC, according to the company’s statement.