U.S. -listed company Scilex Holding will exchange US$200 million in subsidiary shares for the equivalent of Bitcoin
According to online reports, Scilex Holding Company, a U.S. listed company, disclosed that the company has signed a securities purchase agreement with an institutional investor in exchange for $200 million worth of Semnur Pharmaceuticals, Inc. Common shares to obtain the equivalent value of Bitcoin. Under the terms of the agreement, Semnur Pharmaceuticals common shares held by Scilex Holding Company will be exchanged for assets with institutional investors at a valuation of US$200 million in exchange for the equivalent of Bitcoin.
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