Mei Pharma, a pharmaceutical company located in Nasdaq, completed a private placement of common stock in July to win $100 million in Litecoin (LTC) as part of its financial strategy.
The company sued GSR, a company specializing in investing in cryptocurrency. Act as an advisor in managing these digital assets We explain the statement that we will oversee the implementation of this initiative.
According to MEI, the transaction is a key step in its long-term strategic planning and positions it as “the first public company to adopt Litecoin as an asset for the Ministry of Finance.”
Litecoin founder Charlie Lee, along with GSR and the Litecoin Foundation, They led investments with signatures of risk capital Infrastructure suppliers such as Mozayyx, Parafi, Hivemind, Primitive, RLH Capital, and Delta Blockchain.
Litecoin’s adoption has promoted the value of Mei’s actions. In June, the stock was estimated at $2, reaching up to $8 in July, and is currently stable at $5 per share.
The move reflects similar strategies to companies, such as strategies that incorporate Bitcoin (BTC) into accounting, as reported by encryption. On top of that, Enhance awareness of Litecoin as a viable option for corporate preparation.
Additionally, MEI will focus on the pharmaceutical industry while managing this Cryptocurrency Ministry. Unlike other companies that have abandoned their original businesses to focus solely on cryptocurrency after adopting digital assets, MEI is trying to balance both fronts and integrate financial innovation with their main business.