Mercurity Fintech Holding Inc. (NASDAQ: MFH) witnessed a strong upswing on Tuesday after announcing an update regarding its equity initiative. MFH stock advanced 22.73% during the session, closing at $4.32.
Registered Direct Offering Not Completed
The company disclosed that its previously announced registered direct offering of ordinary shares and warrants could not be finalized. This was attributed to market conditions and unforeseen obstacles that hindered the fulfillment of certain customary closing requirements.
Top 5 EV Tech Stocks to Buy for 2023
The electric vehicle boom is accelerating – and fast. According a new report published by BloombergNEF, annual spending on passenger EVs hit $388 billion in 2022, up 53% from the year before. Like we said, the boom is accelerating – and the time to buy EV-related tech stocks is now. Get our free report, "Top 5 EV Tech Stocks to Buy for 2023".
Click Here to Download the FREE Report.
Sponsored
Last week, Mercurity had executed securities purchase agreements with institutional investors for the acquisition of ordinary shares or pre-funded warrants to purchase ordinary shares, along with warrants for additional shares. The planned offering was intended to strengthen the company’s crypto treasury strategy and enhance its suite of on-chain financial solutions.
Investment Participation and Offering Terms
Participants in the financing arrangement included LTP, Syntax Capital, OGBC Group, and Blockstone Capital—firms actively engaged in the blockchain and digital asset sectors. As outlined in the agreements, Mercurity aimed to issue 12,485,715 ordinary shares and an equal number of warrants under the registered direct offering.
The effective offering price was set at $3.50 per ordinary share, with warrants carrying an exercise price of $3.50 and a validity period of five years. Proceeds from the offering were earmarked for expanding the company’s crypto treasury strategy, ecosystem staking, tokenized yield instruments, institutional-grade on-chain infrastructure, and general corporate needs.
Strategic Solana-Based Initiative
In a related strategic move, Mercurity recently entered into a $200 million Equity Line of Credit Agreement with Solana Ventures Ltd. to drive its Solana-based digital asset treasury strategy. This initiative positions MFH as a significant institutional participant within the Solana ecosystem, transitioning beyond fintech services into advanced on-chain treasury deployment and protocol engagement.
The strategy focuses on building substantial Solana (SOL) holdings, generating yield through staking, validator nodes, and decentralized finance protocols, while also investing in Solana-based projects such as real-world assets and tokenized finance solutions. This marks Mercurity’s continued evolution toward direct participation in decentralized network value creation, as Solana advances as a leading platform for tokenized assets and institutional-grade DeFi.
