MFI announced a special offering of $500 million with accredited institutional investors to fund a digital asset treasury strategy. The Hong Kong-based company plans to sell 50 million Class A common shares and pre-funded warrants at a price of $10.0000 per share.
The private investment in public equity transaction is expected to close around 01/12/2025. MFI intends to use the net proceeds primarily to acquire Bitcoin and establish digital asset treasury operations, as well as for working capital and general corporate purposes.
The securities will be sold in transactions that do not involve a public offering and have not been registered under the Securities Act of 1933. The company has entered into registration rights agreements with investors, committing to provide resale registration statements to the Securities and Exchange Commission.
MF International operates as a holding company in the British Virgin Islands and has three subsidiaries in Hong Kong. Its main operating company, M-Finance, provides financial trading solutions as a software service, including foreign exchange and commodities trading platforms for brokers and institutional clients across mainland China, Hong Kong, and Southeast Asia.
The company has nearly 20 years of experience in financial trading solutions and offers services including the mF4 trading platform, customer relationship management systems, and liquidity solutions. Koley LLP acts as a U.S. legal advisor for the transaction.
Additional details regarding the offer and the securities purchase agreement will be included in the Form 6-K submitted to the Securities and Exchange Commission, according to the company's statement.