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Investing.com -- ENDRA Life Sciences Inc (NASDAQ:NDRA) stock surged 22.2% Monday after the medical imaging technology company announced it has secured commitments for a $4.9 million private placement to launch a digital asset treasury strategy.
The company said the funding, led by institutional and cryptocurrency investors, will primarily be used to establish digital asset treasury operations and accumulate cryptocurrency, with a focus on decentralized finance (DeFi) assets. The remaining proceeds will support completion of ENDRA’s TAEUS pilot validation imaging study for metabolic dysfunction associated liver disease.
Under the agreement, investors will purchase 744,340 shares of common stock or prefunded warrants at $6.57 per unit, along with warrants to purchase up to 1,488,680 additional shares at $6.32 each. If all warrants are exercised, ENDRA could receive up to $14.4 million in total gross proceeds.
The company also announced plans to add Jeff Dorman, Chief Investment Officer at Arca Investment Management, to its Digital Asset Advisory Board. Dorman brings over 25 years of trading and asset management experience from firms including Merrill Lynch and Citadel.
"Establishing a digital asset treasury is a logical extension of our capital allocation strategy," said Alexander Tokman, CEO of ENDRA Life Sciences . "By coupling high-conviction exposure to digital assets with a variety of DeFi-native yield enhancement techniques, we aim to generate durable yield, manage risk and open new avenues for value creation."
The private placement is expected to close around October 14, 2025, subject to customary closing conditions. Lucid Capital Markets acted as the sole placement agent for the offering.
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