According to Deep Tide TechFlow news on November 18, as reported by GLOBE NEWSWIRE, online business operating company Onfolio Holdings Inc. (NASDAQ: ONFO) announced it has secured up to $300 million in financing through convertible note financing instruments.
The first batch of 6 million USD will be delivered on November 18, and another 2 million USD is expected to be received about 30 days later. The remaining up to 292 million USD can be withdrawn in batches in the future. The funds will be used to establish a digital asset library, generate income through staking, strengthen the balance sheet, and accelerate operational growth.
CEO Dom Wells stated that the company will directly invest in Bitcoin, Ethereum, and Solana, and will stake these assets through a digital finance platform to obtain investment returns. About $2.5 million of the initial financing will be used to purchase and stake digital assets, while another $2.5 million will support strategic growth plans. In future financing, 75% of net proceeds will be used to purchase more digital assets, and 25% will support strategic growth.
Disclaimer: The information on this page may come from third parties and does not represent the views or opinions of Gate. The content displayed on this page is for reference only and does not constitute any financial, investment, or legal advice. Gate does not guarantee the accuracy or completeness of the information and shall not be liable for any losses arising from the use of this information. Virtual asset investments carry high risks and are subject to significant price volatility. You may lose all of your invested principal. Please fully understand the relevant risks and make prudent decisions based on your own financial situation and risk tolerance. For details, please refer to
Disclaimer.
