Latest news with #GSR
Business Wire
a day ago
- Business
- Business Wire
MEI Pharma Announces Closing of $100,000,000 Private Placement to Initiate Litecoin Treasury Strategy, Becoming First and Only Publicly Traded LTC Holder on a National Exchange
SAN DIEGO--(BUSINESS WIRE)--MEI Pharma, Inc. (Nasdaq: MEIP) (the 'Company' or 'MEI') today announced that it has closed its previously announced private placement for the purchase and sale of 29,239,767 shares of common stock (or pre-funded warrants in lieu thereof) at a price of $3.42 per share, for aggregate gross proceeds of approximately $100 million. In connection with the closing of the transaction, MEI has appointed Charlie Lee to its Board of Directors (at which time current member Taheer Datoo will resign) and GSR as its digital asset and treasury management advisor to oversee the implementation of its Litecoin Treasury Strategy. Charlie Lee and GSR acted as lead investors, alongside participation from the Litecoin Foundation as well as prominent crypto venture capital firms and infrastructure providers including MOZAYYX, ParaFi, Hivemind, Primitive, RLH Capital & Delta Blockchain, among others. This transaction marks a significant milestone in MEI's long-term strategic plan and establishes MEI as the first and only publicly traded company to adopt Litecoin as a treasury reserve asset. Litecoin (LTC) is a leading peer-to-peer cryptocurrency that was created by Charlie Lee in October 2011. It is often referred to as the "silver to Bitcoin's gold" due to its similarities to Bitcoin. As one of the longest-running blockchains with 100% uptime since its inception, Litecoin has demonstrated a proven track record of growth and reliability with significant enterprise-grade use cases. By integrating Litecoin into its treasury operations, MEI gains access to a decentralized monetary asset that complements its cash management framework. 'Litecoin was designed to be fast, secure, and decentralized – and it's exciting to see those principles now being embraced by a public company like MEI,' said Charlie Lee, Creator of Litecoin. 'This milestone not only reflects growing institutional confidence in LTC but also sets the stage for broader adoption in traditional capital markets.' 'We're thrilled to partner with MEI in building a thoughtful LTC-focused treasury strategy,' said Josh Riezman, US Chief Strategy Officer of GSR. 'Our goal is to help institutions unlock the long-term potential of digital assets while managing risk and maintaining flexibility. This treasury strategy is centered around a completely fair and fully decentralized digital asset with a nearly unparalleled track record as a store of value and means of payment.' 'MEI is pleased to pioneer this innovative public company treasury strategy with GSR and Charlie Lee, the first to our knowledge in the biotech sector,' said Frederick W. Driscoll, Chairman of the Board of MEI. The Company intends to use the funds to acquire the native cryptocurrency of the Litecoin blockchain commonly referred to as 'LTC', which will serve as the Company's primary treasury reserve asset. Titan Partners Group, a division of American Capital Partners, acted as the sole placement agent in connection with the PIPE. Morgan, Lewis & Bockius LLP acted as counsel to the Company and Lucosky Brookman LLP acted as counsel to the placement agent. The offer and sale of the foregoing securities is being made in a private placement in reliance on an exemption from the registration requirement of the Securities Act of 1933, as amended (the 'Securities Act'), pursuant to Section 4(a)(2) of the Securities Act and/or Regulation D promulgated thereunder, and applicable state securities laws. Accordingly, the securities offered in the private placement may not be offered or sold in the United States except pursuant to an effective registration statement or an applicable exemption from the registration requirement of the Securities Act and such applicable state securities laws. Concurrently with the execution of the securities purchase agreements, the Company and the investors entered into a registration rights agreement pursuant to which the Company has agreed to file a registration statement with the Securities and Exchange Commission (the 'SEC') registering the resale of the shares of common stock. Any offering of the Company's Common Stock under the resale registration statement will only be made by means of a prospectus. This press release shall not constitute an offer to sell or a solicitation of an offer to buy these securities, nor shall there be any sale of these securities in any state or other jurisdiction in which such offer, solicitation or sale would be unlawful prior to the registration or qualification under the securities laws of any such state or other jurisdiction. The private placement was conducted in accordance with applicable Nasdaq rules and was priced to satisfy the "Minimum Price" requirement (as defined in the Nasdaq rules). About MEI Pharma MEI Pharma, Inc. (Nasdaq: MEIP) is a pharmaceutical company with a portfolio of several drug candidates that may offer novel and differentiated therapies. The drug candidate pipeline includes voruciclib, an oral cyclin-dependent kinase 9 inhibitor. For more information, please visit Follow us on X (formerly Twitter) @MEI_Pharma and on LinkedIn. Forward-Looking Statements Certain information contained in this press release that are not historical in nature are 'forward-looking statements' within the meaning of the 'safe harbor' provisions of the Private Securities Litigation Reform Act of 1995 including, without limitation, statements regarding our future actions, prospective products, future performance or results, including the success of the PIPE transaction and Litecoin strategy, the amount of proceeds to be received by MEI Pharma and the intended use of proceeds from the PIPE transaction, and any assumptions underlying any of the foregoing. You should be aware that our actual results could differ materially from those contained in the forward-looking statements, which are based on management's current expectations and are subject to a number of risks and uncertainties, including, but not limited to, risk relating to maintaining our current listing on Nasdaq, our ability to retain and attract senior management and other key employees, fluctuations in the market price of LTC and any associated impairment charges that we may incur as a result of a decrease in the market price of LTC below the value at which LTC is carried on our balance sheet, changes in the accounting treatment relating to our LTC holdings, our ability to achieve profitable operations, government regulation of cryptocurrencies and online betting, changes in securities laws or regulations, customer acceptance of new products and services including our LTC treasury strategy, the demand for our products and our customers' economic condition, the impact of competitive products and pricing, the lengthy sales cycle, our proprietary rights, general economic conditions and other risk factors detailed in our annual report and other filings with the SEC. We do not intend to update any of these factors or to publicly announce the results of any revisions to these forward-looking statements.
Yahoo
2 days ago
- Business
- Yahoo
Frank Chaparro, Former Block Reporter, Joins Crypto Trading Firm GSR
Frank Chaparro, the founding reporter at crypto media outlet The Block, is joining trading firm GSR as head of content and special projects, according to a press release on Monday. The 29-year-old, also known as 'Fintech Frank,' latterly served as editor-at-large at The Block, as well as hosting podcasts and providing his followers with a diet of pithy social media posts. In his new role, Chaparro will report to GSR President Jakob Palmstierna and drive initiatives across brand development, market insights, events and strategic engagement with founders and institutional clients, the release said. 'As GSR continues to expand into asset management and advisory, we see a critical need to bridge information gaps in the market and deepen engagement with founders and institutions,' Chaparro said in a statement. 'We are thrilled to welcome Frank to GSR,' said Palmstierna in a statement. 'With a rare mix of industry insight and storytelling ability, he brings exactly the kind of clarity and conviction that will help scale our franchise and deepen our role as a trusted partner in crypto.'Error while retrieving data Sign in to access your portfolio Error while retrieving data Error while retrieving data Error while retrieving data Error while retrieving data
Saudi Gazette
3 days ago
- Business
- Saudi Gazette
Saudi Arabia to host Global Symposium for Regulators in partnership with ITU
Saudi Gazette report RIYADH — Saudi Arabia, represented by the Communications, Space and Technology Commission (CST), will host the Global Symposium for Regulators (GSR25) in collaboration with the International Telecommunication Union (ITU) from August 31 to September 3 in Riyadh. Themed 'Regulation for Sustainable Digital Development,' the symposium is set to bring together ministers, ICT regulators, policymakers, private sector leaders, and industry stakeholders from over 190 countries. Eng. Haitham AlOhali, Acting Governor of CST, said the Kingdom's hosting of GSR25 reflects the international community's confidence in Saudi Arabia's digital leadership and regulatory innovation. 'We are committed to playing a proactive role in advancing sustainable digital development and finding inclusive solutions to connect humanity. The symposium is poised to drive a transformative shift in digital regulation on a global scale,' he said. Since its inception 25 years ago, GSR has served as a global platform for dialogue between regulators and ICT stakeholders, promoting knowledge exchange and the adoption of best-in-class regulatory Secretary-General Doreen Bogdan-Martin praised GSR's legacy, stating: 'For 25 years, GSR has played a key role in shaping digital regulation through major technological advances—from the rise of mobile and internet services to the emergence of artificial intelligence. Let's reaffirm our shared commitment to connecting everyone, everywhere; promoting innovation, trust, and social good; and uniting around a common vision for the digital future.'Dr. Cosmas Zavazava, Director of the ITU Telecommunication Development Bureau, added: 'Built around interactive high-level panels on cutting-edge policy issues, GSR25 will offer a unique opportunity for global regulators and policymakers to address key challenges and drive a sustainable digital future. We thank Saudi Arabia's CST for hosting this milestone event.'The symposium will explore strategic topics such as collaborative regulation, digital inclusion, trust and user protection, capacity building in emerging technologies, and regulatory models that support long-term sustainability in the digital ecosystem.
Business Insider
5 days ago
- Business
- Business Insider
Why Is MEI Pharma Stock (MEIP) Up 85% Today?
MEI Pharma (MEIP) stock surged on Friday after the pharmaceutical company announced a private investment in public equity (PIPE) for 29,239,767 shares of MEIP stock. The company will sell these shares for $3.42 each, resulting in gross proceeds of roughly $100 million. The company will use these funds to purchase Litecoin (LTC), creating a crypto reserve of the digital tokens. Elevate Your Investing Strategy: Take advantage of TipRanks Premium at 50% off! Unlock powerful investing tools, advanced data, and expert analyst insights to help you invest with confidence. Make smarter investment decisions with TipRanks' Smart Investor Picks, delivered to your inbox every week. In addition to this, Litecoin creator Charlie Lee will join the MEI Pharma Board of Directors. It will also appoint digital asset market maker GSR as the company's digital asset and treasury management advisor. Lee and GSR are lead investors in the PIPE. Frederick W. Driscoll, Chairman of the Board at MEI Pharma, said, 'MEI is pleased to pioneer this innovative public company treasury strategy with GSR and Charlie Lee, the first to our knowledge in the biotech sector.' MEI Pharma Stock Movement Today MEIP stock was up 86.22% in pre-market trading on Friday, extending a 16.58% rally yesterday. The stock has also increased 82.93% year to date and 57.34% over the past 12 months. Today's movement came with heavy trading, as some 13 million shares changed hands, compared to a three-month daily average of about 26,000 shares. Is MEI Pharma Stock a Buy, Sell, or Hold? Turning to Wall Street, coverage of MEI Pharma is lacking. However, TipRanks' AI analyst Spark has it covered. Spark rates MEI stock a Neutral (41) with no price target. It cites 'significant financial performance challenges and poor valuation metrics' as reasons for this stance.
Yahoo
5 days ago
- Business
- Yahoo
GSR Leads $100M Private Placement into Nasdaq-listed MEI Pharma to Launch First Institutional Litecoin Treasury Strategy Alongside Charlie Lee
NEW YORK, United States, July 18th, 2025, ChainwireGSR, crypto's capital markets partner, today announced an investment and strategic partnership with MEI Pharma, Inc. (NASDAQ:MEIP) ('MEI'), in which it will serve as both strategic advisor and digital asset treasury manager. The $100 million private investment in public equity (PIPE) into MEI represents a significant step toward institutionalizing Litecoin as a treasury asset. GSR will work closely with Litecoin (LTC) creator Charlie Lee, who brings deep technical credibility and a long-term perspective on Litecoin's evolution, with support from the Litecoin Foundation. Lee and a GSR appointee will also join MEI's Board of Directors. This initiative follows MEI's previously announced review of strategic alternatives and reflects its new mission in alignment with both the Litecoin Foundation and GSR's digital asset management platform. 'Litecoin has consistently delivered a stable, low-cost, and accessible network for over a decade,' said Charlie Lee, creator of Litecoin. 'With leading global transaction volume on platforms like BitPay, Litecoin is trusted by users and integrated across retail and payments. This partnership with GSR and MEI brings that utility and mission into an institutional setting for the first time.' MEI's leadership is driving this strategic shift, viewing the partnership as a bridge between public markets and crypto-native innovation. With GSR serving as asset manager and execution partner, MEI will be well-positioned to manage LTC as a treasury asset. 'This initiative represents the first time a public company is aligning its treasury strategy with Litecoin at an institutional level,' said Joshua Riezman, US Chief Strategy Officer, GSR. 'It reflects rising institutional confidence in LTC's credibility, resilience, and regulatory clarity.' 'There is already meaningful institutional interest in Litecoin, but few mechanisms exist to access it in a secure and structured way,' said Quynh Ho, Head of Venture Investment, GSR. 'This investment is designed to close that gap by enabling access to an asset with remarkable staying power.' With GSR as an investor, strategic advisor, and asset manager, the collaboration creates potential momentum for LTC's future growth in decentralized finance. GSR's broader involvement in the space, including the incubation of the Polygon-based protocol Katana, highlights its expertise in supporting emerging ecosystems. Charlie Lee and GSR acted as lead investors, alongside participation from the Litecoin Foundation and prominent crypto venture capital firms and infrastructure providers, including Mozayyx, Parafi, HiveMind, Primitive, RLH Capital, Delta Blockchain, and CoinFund, among other financial institutions. GSR continues to invest in the broader digital asset ecosystem, offering capital solutions, liquidity, and strategic advisory services to partners at all stages of growth. About GSR GSR is crypto's capital markets partner, delivering market-making, institutional-grade OTC trading, and strategic venture backing to founders and institutions. With more than a decade of experience, we provide strategic guidance, market intelligence, and access to a global network to help teams scale. Users can follow GSR on X or visit for more Public RelationsHaley | © Copyright 2025 All rights reserved Error in retrieving data Sign in to access your portfolio Error in retrieving data Error in retrieving data Error in retrieving data Error in retrieving data
