Public company MEI Pharma completes $100 million private placement financing and incorporates Litecoin into its financial reserves

ChainCatcher news, according to BusinessWire, MEI Pharma (NASDAQ: MEIP) announced the completion of a $100 million private placement financing, intending to use the funds to purchase Litecoin (LTC) as a financial reserve asset.

Reportedly, this move makes MEI the first company listed on a national exchange to hold Litecoin. Litecoin founder Charlie Lee has joined the MEI board, and digital asset firm GSR has been hired as a financial management advisor. The financing issued approximately 29.24 million shares at $3.42 per share, with participants including the Litecoin Foundation and several investment institutions.