Asian food giant DDC Enterprise closes up to $528 million to grow corporate Bitcoin reserves
Quick Take The firm previously announced it was looking to raise up to $528 million from investors to execute its corporate bitcoin accumulation strategy. DDC Enterprise holds 138 bitcoins valued at around $14.67 million, as of June 12.

DDC Enterprise (ticker DDC), the NYSE-listed entity behind the Asian food brands DayDayCook, Nona Lim, and Yai's Thai, secured capital commitments of up to $528 million to grow out its Bitcoin treasury.
The financing came from a $26 million private investment in public equity (PIPE) deal with "premier" digital asset investors and a $25 million issuance of convertible notes, in addition to a $2 million private placement and $200 million equity line of credit with Anson Funds. The firm maintains the option to raise up to $275 million more via convertible notes, according to a Tuesday release .
DDC plans to buy bitcoin using the proceeds of this offering, with the New York-based investment bank Maxim Group LLC overseeing the transactions, the company said.
"This maximum aggregate $528 million capital commitment marks a watershed moment for DDC," the firm's founder, chairwoman, and CEO Norma Chu said in a statement. "With premier institutions such as Anson Funds, Animoca Brands , and Kenetic Capital backing our vision, we believe we have unprecedented capacity to execute our mission of building one of the world's most valuable corporate bitcoin treasuries and becoming a top global bitcoin holder."
DDC had first announced its treasury strategy in May of this year. The firm bought 21 bitcoins valued around $2.3 million at the time by selling 254,333 shares of its class A stock. The firm then laid out plans to raise $528 million in financing in mid-June.
According to the announcement, the firm holds 138 BTC, worth about $14.67 million, as of June 12.
DDC envisions "building the world's most valuable Bitcoin treasury," competing with other crypto treasury companies like Michael Saylor's firm Strategy . Strategy is the largest corporate holder of bitcoin and owns 597,325 BTC , or 2.84% of the total BTC supply, as of June 30. Aside from bitcoin, public firms such as DeFi Development Corporation , SharpLink Gaming , The Smarter Web Company , and others have marked plans to expand their crypto treasury holdings.
Bitcoin, the most valuable cryptocurrency by market capitalization, traded at about $106,300 , falling nearly 1% in the past day, according to The Block's Bitcoin price page.
The Block reached out to DDC Enterprise for additional comment.
Disclaimer: The content of this article solely reflects the author's opinion and does not represent the platform in any capacity. This article is not intended to serve as a reference for making investment decisions.
You may also like
Bitcoin holds near $114K as Fed minutes highlight inflation risks over jobs

Onchain Analysis Suggests YZY Sniper Wallets May Be Linked to LIBRA, Allegedly Extracting $23M


Shiba Inu Shibarium Shows Possible Recovery as Daily Transactions Rise to 4.8 Million

Trending news
MoreCrypto prices
More








