Bullish indicating open at $55-$60, IPO prices at $37
Safety Shot Inc. (SHOT) announced a strategic alliance with BONK founding contributors that will see the company receive $25 million worth of BONK tokens. In exchange, Safety Shot will issue $35 million in preferred shares convertible to common stock.
The beverage company said it has settled all outstanding debt and maintains over $15 million in cash ahead of the transaction. Safety Shot described the move as part of a broader corporate evolution to bridge traditional public markets with digital assets.
BONK operates on the Solana blockchain and held a market capitalization exceeding $2 billion as of July 31, making it the fourth-largest memecoin according to CoinMarketCap data. The token has more than 980,000 on-chain holders based on SolScan reporting.
"This strategic partnership represents the first stage of a much broader corporate evolution for our company," said Jarrett Boon, Safety Shot’s chief executive officer. "By aligning with one of the most exciting ecosystems in digital assets, we are taking a bold first step."
Safety Shot operates beverage brands including its patented Safety Shot drink designed to reduce blood alcohol content and Yerbaé plant-based energy beverages. The company said it plans to acquire revenue-generating assets within the decentralized finance space to build a digital asset treasury.
Dominari Securities LLC served as exclusive financial advisor for the transaction. The company said additional details about its strategy will be shared with shareholders in coming days.