Nasdaq-listed Tharimmune announced that it has raised $540 million through a private placement to create a treasury of Canton Network’s native token, Canton Coin (CC), Bloomberg reported.
The deal closed at $3.075 per share.
The company will hold Canton Coins, the native token of the Canton blockchain developed by Digital Asset Holdings for financial transaction use cases.
At this point, Tharimmune plans to establish a treasury within the Canton Network ecosystem with this fundraising campaign and hold CC tokens as strategic assets.
It is stated that important names such as ARK Invest, DRW, Kraken, Polychain Capital are among the investors.
The Canton Foundation, which oversees the Canton Network, also participated in the fundraising deal. With this, Tharimmune becomes the first and only public company supported by the Canton Foundation.
The statement also stated that the Canton Network, developed by Digital Asset Holdings, forms the basis of the tokenization and payment infrastructure used by companies such as Goldman Sachs, BNP Paribas and DTCC.
“With trillions of dollars of assets on-chain and support from leading institutions like Broadridge, Goldman Sachs, Tradeweb Markets, DTCC, DRW, and BNP Paribas, Canton Network delivers real-world performance, privacy, and atomic payments.”
Tharimmune shares rose more than 120% to around $6.70 after the announcement. However, the company’s shares quickly gave back most of those gains, falling to around $3.39.
*This is not investment advice.