Fold (FLD), a publicly traded Bitcoin Financial Services Company, has secured a stock purchase system worth up to $ 250 million to grow its Bitcoin
Holdings.
The Arizona-based company said on Tuesday that it signed an agreement to give it the right, but not the obligation to issue and sell up to $ 250 million in new shares, pending regulatory conditions.
If they are activated, Fold plans to direct most of the proceeds against expanding its company’s Bitcoin state box, which already has 1,490 BTC. The facility was arranged through Cohen & Company Capital Markets, a department of JVB Financial Group, LLC.
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