180 Life Sciences Achieves Milestone with Private Placement
180 Life Sciences (NASDAQ: ATNF) has achieved a notable milestone by finalizing a private placement worth $425 million, aimed at executing its Ethereum Treasury Strategy. This private investment, priced at $2.65 per share, saw backing from major players such as Electric Capital and Harbour Island, along with contributions from well-known crypto investment firms like Borderless Capital and Polychain Capital.
Funding Allocation and New Income-Generating Program
The funds generated from this financing round are primarily earmarked for the acquisition of Ethereum (ETH) and will help establish a new income-generating program overseen by Electric Capital. This initiative aims to exceed the typical returns achievable through standard ETH staking by employing various strategies that include staking, lending, and liquidity provisioning.
Governance Changes and Future Opportunities
In addition to the financial developments, 180 Life Sciences has revealed significant changes to its governance structure. Notably, McAndrew Rudisill has been appointed as the new Chairman of the Board, and several independent directors have also been added to enhance the board’s composition.
Looking ahead, the company is positioned to explore further funding opportunities, with the potential to raise an additional $1.5 billion through the issuance of fixed-income securities.
