Tharimmune announces $540 million private financing, led by DRW and others, to establish Canton Coin treasury
On November 3, publicly traded Tharimmune, Inc. (NASDAQ: THAR) today announced that the company has signed private placement subscription agreements with several institutional and accredited investors ("this offering"), intending to sell common stock (or equivalent pre-funded warrants) at a price of $3.075 per share, with an expected total issuance of approximately $540 million (before deducting underwriting fees and other issuance expenses).
This offering is led by DRW and Liberty City Ventures, with notable participating investors including: ARK Invest, Bitwave, Broadridge, Clear Street, Copper, Digital Asset, Feynman Point Asset Management, Five North, Kaiko, Kenetic, Kraken, LendOS, Lukka, Nima Capital, MPCH, Obsidian Software, Polychain Capital, Proof Group, SBI Group, The Tie, Tradeweb Markets, and 7RIDGE. The regulatory body managing the Canton Network, Canton Foundation, also participated in this private placement. Tharimmune is the first and only publicly traded company supported by Canton Foundation.
This offering is expected to be completed around November 6, 2025, subject to customary closing conditions. The company plans to use the net proceeds from the private placement to acquire Canton Coin (CC) — a utility token that supports interoperability and settlement within the Canton Network, and for operating capital and general corporate purposes. The company also plans to operate as a Super Validator on the Canton Network and run additional validation nodes to acquire more CC tokens.
