MEI Pharma Closes $100 Million Private Placement; Lucosky Brookman LLP Advises Placement Agent in First-of-Its-Kind Litecoin Treasury Transaction
MEI Pharma, Inc. (Nasdaq: MEIP) has successfully closed its previously announced $100 million private placement through the sale of 29,239,767 shares of common stock (or pre-funded warrants in lieu thereof), priced at $3.42 per share.
The Company intends to use 100% of the net proceeds to acquire Litecoin (LTC), making MEI the first publicly traded company on a national exchange to adopt LTC as its primary treasury reserve asset.
In connection with the transaction, Charlie Lee, creator of Litecoin and a lead investor in the round, has joined MEI’s Board of Directors. GSR, a global leader in digital asset market making and co-lead investor, has been appointed as MEI’s asset manager to oversee the implementation of its Litecoin treasury strategy.
Additional participation came from the Litecoin Foundation, MOZAYYX, ParaFi, Hivemind, Primitive, RLH Capital, and Delta Blockchain.
Lucosky Brookman LLP served as legal counsel to Titan Partners Group, a division of American Capital Partners, which acted as the sole placement agent for the offering.
This transaction marks a historic shift in how public companies approach treasury management - anchored by decentralized digital assets and supported by industry leaders.