MEI Pharma Unveils $100M Litecoin Treasury, Becomes First Public Firm To Hold LTC As Reserve
Mei Pharma announced a private investment of $ 100 million at $ 3.42 per share, marking a step forward in its growth strategy. As part of the agreement, Charlie Lee, creator of Litecoin, will join the board of directors of Mei, replacing Taheer Datoo.
Mei also appointed GSR as his advisor to digital assets and treasure to help launch his new Litecoin cash strategy, with a unique mix of biotechnology and blockchain.
First public company to adopt the LTC as a reserve
The $ 100 million financing cycle was also supported by the Litecoin Foundation and the best cryptography companies such as Mozayyx, Parafi, Hivemind and Coinfund. Mei becomes in particular the first public enterprise to adopt Litecoin as a Treasury reserve asset. Litecoin is a rapid and reliable cryptocurrency often called “Bitcoin gold silver”.
The perfect history of Litecoin and the use of the real world make it a solid and decentralized asset for the Mei treasure strategy.
“This step reflects not only the growing institutional confidence in the SLD, but also opens the ground for a broader adoption in the traditional capital markets,” Lee said in the press release.
Charlie notes that for 14 years, Litecoin is a stable, low cost and accessible network used by millions. He leads global transactions to platforms like Bitpay and is reliable for payments, funding and retail. This partnership with GSR and Mei Pharma leads the real usefulness of Litecoin the first time in institutional space.
There has been a growing list of companies adding crypto to their balance sheets. This change shows that crypto is considered a long -term strategic asset, and not only speculative. Mei’s decision reports a belief in the future of Litecoin as a real world payment tool, and not only as a digital value store.
Deal should close on July 22
Mei Pharma plans to conclude its private investment agreement of $ 100 million before July 22, 2025, awaiting final approvals. Funds will be used to buy Litecoin, which will become the main reserve asset of the Mei Treasury. Titan Partners Group acts as the only investment agent for the agreement.
Mei said the pipe had been designed to comply with the Nasdaq’s minimum list and pricing rules. After the conclusion of the agreement, the company will file a declaration of registration of resale with the SEC.
Mei’s actions
Friday, Mei Pharma’s shares increased by more than 50%. Actions have reached a summit of $ 9 before retreating and is currently negotiating at $ 5.91, up 31% in the last 24 hours.
