DigitalX Limited (ASX:DCC), an Australian digital investment manager and the only ASX-listed crypto fund manager, has announced it has secured $20.7 million through a strategic placement. The funding comes from global digital asset investors including Animoca Brands, UTXO Management, and ParaFi Capital, among others. DigitalX will use the capital to expand its existing Bitcoin treasury position, reinforcing its focus on Bitcoin as a core asset.
The placement, priced at $0.074 per share, involved the issuance of approximately 271.4 million new shares. Subject to shareholder approval, the investors will receive one warrant for every two shares, exercisable at $0.15 per share, expiring in 18 months. Approximately $19.7 million of the raised capital will be used to grow the company’s Bitcoin holdings, with the remainder allocated to offer costs and working capital.
DigitalX intends to establish a Strategic Advisory Board, including Yat Siu, Executive Chairman of Animoca Brands, and Hervé Larren, Advisor to David Bailey, CEO of BTC Inc. Yat Siu is a global Web3 leader who champions digital property rights. Hervé Larren is the CEO of Airvey.io, a US-based Web3 advisory firm. The advisory board will provide ongoing strategic advice focused on Bitcoin and securing access to investors.
The company’s Interim CEO, Demetrios Christou, stated that the investment marks a significant milestone, providing capital and strategic expertise to execute its focused strategy. DigitalX Non Executive Chairman Leigh Travers commented that the company is pleased to welcome some of the largest and most well regarded crypto investors in the space to the company’s cap table and looks forward to executing on this Bitcoin strategy for DigitalX.