BlockBeats News, October 14th, U.S. listed TAO Treasury company TAO Synergies Inc. (Nasdaq: TAOX) announced the completion of a $11 million private financing round.
This financing round was participated by existing shareholders, TAO Strategic Advisor James Altucher, and new investor DCG. The financing involved the issuance of 11,000 shares of newly issued Series E Convertible Preferred Stock, with a face value of $1,000 per share, convertible into common stock at a conversion price of $8 per share. Additionally, five-year warrants to purchase common stock were issued with an exercise price of $8 per share.
James Altucher stated that this financing will further support the company’s strategic investments in TAO tokens and opportunities to generate income and accumulate more TAO within the Bittensor ecosystem. The transaction is expected to be completed around October 15th. (PRNewswire)
