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Investing.com -- Antelope Enterprise Holdings Limited (NASDAQ:AEHL) stock surged 40% after the company announced a strategic financing agreement worth up to $50 million to fund Bitcoin acquisitions.
The company has entered into a Securities Purchase Agreement with U.S.-based investment firm Streeterville Capital, LLC, which will provide capital in tranches over a period of up to 24 months. According to the agreement, the proceeds will be used exclusively for purchasing Bitcoin, marking AEHL’s formal entry into the cryptocurrency asset space.
"The move marks a true starting point of AEHL’s digital transformation and a significant milestone as we shift from strategy to execution," said Tingting Zhang, CEO of AEHL. "We have developed a clear and well-defined digital asset roadmap, and this financing provides the capital capability needed to support our long-term strategic goals."
The company plans to make gradual Bitcoin acquisitions based on market conditions and has committed to regular updates on its purchase progress, holding status, and custody arrangements to maintain transparency with investors.
AEHL indicated it will continue exploring additional strategic opportunities in Web3 and the broader crypto finance space, with plans to release a comprehensive Bitcoin strategic development roadmap in the near future.
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