mF International announces $500M private placement

mF International (MFI) announced a $500M private placement, or PIPE, with accredited institutional investors in connection with its plans to initiate a digital asset treasury strategy. The PIPE is expected to involve the sale of 50M of the company’s class A ordinary shares and pre-funded warrants at a purchase price of $10.00 per class A ordinary share. mF expects to release additional updates regarding its treasury activities in the near-term. The PIPE is expected to close on or around December 1, 2026. The company expects to receive aggregate gross proceeds of $500M from the PIPE, before deducting offering expenses. The company intends to use the net proceeds primarily fund the acquisition of bitcoin cash and the establishment of the company’s digital asset treasury operations, as well as for working capital, general corporate and other purposes.