Nasdaq-listed company iPower enters into $30 million convertible note financing agreement to launch DAT strategy
PANews, December 23 – According to Globenewswire, Nasdaq-listed e-commerce and supply chain platform iPower has announced a $30 million convertible note financing agreement to launch its Digital Asset Treasury (DAT) strategy. The company disclosed that the first phase of this financing will invest $9 million, of which $4.4 million is intended for the purchase of bitcoin and ethereum. The remaining funds will be used to increase working capital and strengthen the balance sheet, with 80% of subsequent funds to be used for continued acquisition of digital assets.
Previously, iPower announced in June this year that it would strategically shift towards crypto finance and blockchain infrastructure services.
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