Amber International Raises $25.5M to Accelerate $100M Crypto Reserve Strategy
mber International Holding Limited (Nasdaq: AMBR) completed a $25.5 million private placement to enhance its $100 million Crypto Ecosystem Reserve Strategy, the company announced Thursday.
Institutional investors including Pantera Capital, CMAG Funds, Mile Green, Choco Up, and Kingkey Financial International (Holdings) Limited subscribed at $10.45 per American Depositary Share, representing a 5% discount to the three-day volume-weighted average price between June 25-27.
The placement involved issuing 12.2 million Class A ordinary shares, equivalent to 2.44 million ADSs based on the company’s 5:1 ratio.
Reserve Allocation
Proceeds will support Amber’s $100 million crypto reserve initiative announced in May, which has been allocated…
