Nasdaq-listed SUI Group Holdings (formerly Mill City Ventures) announced that its assets have reached approximately $344 million, with a total of 101.8 million SUIs on hand after acquiring an additional 20 million.
The company’s token purchases are made within the framework of a discounted locked token purchase agreement with the Sui Foundation.
“We plan to continue capital raisings to increase purchases of discounted locked-up SUI, thereby increasing SUI per share and creating value for our shareholders,” said Stephen Mackintosh, the company’s CIO.
SUI Group also reportedly has approximately $58 million in cash in its coffers, which will be used for future token purchases.
It is noteworthy that publicly traded companies, known as digital asset treasuries (DAT), are increasing their crypto asset investments in order to both provide investor returns and support ecosystems, as in the cases of Solana and Toncoin.
*This is not investment advice.