InvestingPro’s Fair Value model captures 63% gain in Steelcase ahead of acquisition
Cypherpunk Technologies Inc. (NASDAQ:CYPH) announced Wednesday that it has entered into a Waiver and Modification Agreement with Winklevoss Treasury Investments, LLC, modifying certain terms of a previously issued warrant. The agreement was finalized on November 19, 2025, according to a press release statement and a filing with the Securities and Exchange Commission. The company, currently trading at $2.94 with a market capitalization of approximately $167 million, has seen its shares surge 67% over the past week.
The modification affects a Common Warrant originally issued to Winklevoss Capital on October 8, 2025, as part of a private placement under a Securities Purchase Agreement dated October 6, 2025. The original terms required Cypherpunk Technologies to reserve shares of its common stock solely for potential issuance upon exercise of the warrant.
Under the new agreement, Winklevoss Capital has waived the share reservation requirement for 57,182,378 warrant shares, referred to as "Restricted Warrant Shares." This waiver allows Cypherpunk Technologies to make these shares available for potential offer, issue, and sale under its previously announced at-the-market equity offering program, which authorizes the company to offer and sell up to $200 million of common stock.
The agreement also restricts Winklevoss Capital from exercising the warrant for the 57,182,378 Restricted Warrant Shares until the fifth trading day after either the company increases its authorized common stock to at least 490 million shares or completes a reverse stock split at a ratio of at least 1 to 5. The terms for the remaining warrant shares not classified as Restricted Warrant Shares remain unchanged.According to InvestingPro data, CYPH has demonstrated remarkable volatility with a 673% price return over the past six months. InvestingPro analysis indicates the stock appears overvalued compared to its Fair Value, with RSI suggesting overbought conditions. Subscribers can access 10+ additional ProTips and detailed metrics to better understand this high-momentum stock.
Cypherpunk Technologies, formerly known as Leap Therapeutics, Inc., is incorporated in Delaware and is listed on the Nasdaq Capital Market. The company stated that the agreement does not constitute an offer to sell or a solicitation to buy shares in any jurisdiction where such activity would be unlawful. Financial data from InvestingPro shows the company is not profitable, with a negative EBITDA of $47.56 million in the last twelve months and trades at a high Price/Book ratio of 61.8. Analysts do not expect profitability this year, with an EPS forecast of -$0.81 for fiscal year 2025.
All information is based on a press release statement and the company’s Form 8-K filed with the SEC.
In other recent news, Cypherpunk Technologies has expanded its investment in Zcash by acquiring an additional 29,869.29 ZEC for $18 million. This purchase brings the company’s total holdings to 233,644.56 ZEC, representing 1.43% ownership of the Zcash network. The average price of this latest acquisition was $602.63 per ZEC. Meanwhile, Leap Therapeutics has raised $58.9 million through a private placement led by Winklevoss Capital. The funds are intended to establish a digital asset treasury strategy. This transaction involved issuing 15.2 million shares of common stock, pre-funded warrants for up to 80.8 million shares, and additional warrants for 72 million shares at an exercise price of $0.5335 per share. Leap Therapeutics has indicated that Winklevoss Capital will provide both capital and strategic guidance for this initiative.
This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.