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Jiuzi Holdings Raises $80 Million in a Rights Offering to Support Cryptocurrency Asset Treasury Development
According to Globenewswire, Nasdaq-listed company Jiuzi Holdings (九紫新能) announced that it has reached an investment agreement with a strategic investment firm. The firm will subscribe to 40 million common shares at $2 per share, for a total investment of $80 million. The initial investment funds have been transferred, and the new capital will be used to expand cash reserves to support the development of a cryptocurrency asset treasury, formulate asset allocation strategies, and more. The treasury is expected to include various cryptocurrencies such as Bitcoin, Ethereum, and stablecoins.