Zeta Network Group said on Wednesday that it raised about $230.8 million through a private share sale, with investors paying in Bitcoin or SolvBTC, a wrapped Bitcoin-backed token issued by Solv Protocol.
Under the deal, investors will receive newly issued Class A ordinary shares and warrants allowing them to buy additional shares later at $2.55 each.
Each share and warrant pair was sold at a combined price of $1.70. According to Zeta, the arrangement will strengthen its balance sheet with Bitcoin-based assets as part of a broader treasury strategy.
Zeta Network, a digital infrastructure and fintech company developing an institutional Bitcoin platform, expects the deal to finalize on Thursday, pending closing requirements.
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