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Investing.com -- mF International Limited (NASDAQ:MFI) stock rose 5% Friday after the company announced a $500 million private placement to fund a new digital asset treasury strategy.
The company plans to sell 50 million Class A ordinary shares and pre-funded warrants to accredited institutional investors at $10.00 per share. The proceeds will primarily be used to acquire bitcoin cash and establish digital asset treasury operations, with remaining funds allocated to working capital and general corporate purposes.
The private placement is expected to close around December 1, 2026, and involves the sale of securities in transactions not involving a public offering. These securities have not been registered under the Securities Act of 1933 and cannot be offered or sold in the United States except under exemptions from registration requirements.
As part of the agreement, mF International has committed to file resale registration statements with the SEC to register the resale of ordinary shares purchased by investors in the private placement, whether directly or through warrant exercises.
The company indicated it would provide additional updates regarding its treasury activities in the near term. Cooley LLP is serving as U.S. legal advisor to mF International for this transaction.
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