DDC Enterprise Secures $528M for 5,000
$BTC Treasury Plan
Hong Kong-based food company DDC Enterprise has closed a $528 million capital raise to build its #Bitcoin treasury.
The NYSE American-listed firm plans to purchase 5,000
$BTC over the next three years.
Crypto-native firms Anson Funds, Animoca Brands, and Kenetic Capital participated in the fundraising.
DDC raised $26 million in private equity, $25 million from convertible notes, and $2 million through private placement.
The company currently holds 138
$BTC acquired at an average price of $78,582 per coin.
DDC operates global convenience food brands including Omsom, Yai's Thai, and the DayDayCook platform.
More than 140 public companies now hold a combined $90.9 billion worth of Bitcoin following Strategy's treasury model.
CEO Norma Chu called this an "unprecedented capacity" to build one of the world's most valuable corporate Bitcoin treasuries.
