ALT5 Sigma Raises $1.5 Billion for WLFI Treasury, Adds Eric Trump as Board Director

ALT5 Sigma Corporation said it has entered definitive agreements for a registered direct offering and a concurrent private placement that together are expected to raise about $1.5 billion in gross proceeds. The company will sell up to 200 million shares—half through the public offering and half through a private sale—at $7.50 a share, an at-the-market price under Nasdaq rules.

World Liberty Financial is the lead investor in the private placement and is contributing payment in WLFI tokens. Once the deal closes, ALT5 plans to adopt a crypto-treasury strategy that will leave it holding roughly 7.5 percent of the total WLFI token supply.

Proceeds are earmarked for the purchase of additional WLFI tokens, settling litigation, reducing debt, and general corporate purposes, the Las Vegas-based fintech firm said. Closing is slated for on or about Aug. 12, subject to customary conditions, with A.G.P./Alliance Global Partners acting as sole placement agent.

As part of the transaction, World Liberty Financial co-founder Zach Witkoff will become chairman of ALT5’s board, while Eric Trump will join as a director. WLFI co-founder Zak Folkman will serve as a board observer and Matt Morgan will assume the role of chief investment officer.

This is an AI-generated article powered by DeepNewz, curated by The Defiant. For more information, including article sources, visit DeepNewz.