Tharimmune Shares Rise After $540 Million Private Placement
By Chris WackTharimmune shares were up more than 20%, at $3.54, after the company said it has entered into subscription agreements with investors in a private placement offering for the purchase and sale of its shares at $3.075 a share.The diversified holding company said it expects to see proceeds of $540 million, before deducting placement agent fees and other offering expenses.Tharimmune said DRW and Liberty City Ventures acted as the lead investors, with participation by other investors including ARK Invest, Bitwave, and Broadridge.The closing of the offering is expected to occur on or about Thursday.The company intends to use the proceeds of the offering to acquire Canton Coin, a utility token used to support interoperability and settlement across the Canton Network, as well as for working capital and general corporate purposes.Write to Chris Wack at [email protected]