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Investing.com -- Metalpha Technology Holding Limited (NASDAQ:MATH) stock rose 3% in premarket trading Thursday after the blockchain solutions provider announced a $12 million private placement agreement with two strategic investors.
The company has entered into definitive subscription agreements with Gortune International Investment Limited Partnership and Avenir Group to sell ordinary shares in a transaction expected to close around November 30, 2025, subject to customary conditions.
Metalpha plans to use the proceeds to accelerate business development initiatives, including expanding its blockchain trading services, investing in digital asset technologies, and for general working capital purposes.
"We are pleased to secure this strategic investment from two distinguished institutional partners, which demonstrates their strong confidence in Metalpha’s vision and growth prospects," said Adrian Wang, Chief Executive Officer of Metalpha.
The securities sold in the private placement have not been registered under the Securities Act of 1933 and may not be offered or sold in the United States without registration or an applicable exemption. Metalpha has committed to filing a registration statement with the SEC for the resale of the ordinary shares issued in this placement.
The company describes itself as a global provider of blockchain and trading technology solutions.
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