- Enlivex Therapeutics announced a pivot to a crypto-backed treasury, naming Rain Coin (RAIN) as its official token.
- The company plans to add former Italian Prime Minister Matteo Renzi to its board of directors.
- Shares of Enlivex Therapeutics surged over 70% in pre-market trading following the announcement.
- RAIN token price nearly doubled in the last 24 hours, with retail sentiment turning ‘bullish’ and online chatter remaining high.
- Enlivex announced a $212 million private share sale, with proceeds partly dedicated to developing a RAIN token treasury strategy.
Enlivex Therapeutics reported a major strategic update, revealing on Monday its shift toward a cryptocurrency-based treasury system. The company confirmed that Rain Coin (RAIN) would serve as its official token. This move coincided with the announcement that former Italian Prime Minister Matteo Renzi would join the company’s board of directors.
Shares of Enlivex Therapeutics climbed more than 70% in pre-market trading as a result of the news. Retail sentiment on Stocktwits quickly shifted to ‘extremely bullish’ from ‘neutral’ in the past day. Discussion about Enlivex also rose to ‘extremely high’ from ‘high’ levels.
Meanwhile, the RAIN token price almost doubled during the last 24 hours. Retail sentiment around RAIN improved to ‘bullish’, while online conversation remained at ‘high’ levels.
Enlivex will raise $212 million through a private investment in public equity (PIPE) deal, selling 212 million shares at $1 per share. This price is about 11.5% above last Friday’s closing stock price, as stated. The funds will be collected in U.S. dollars and also in Tether’s USDT, a stablecoin pegged to the U.S. dollar.
The company said all net proceeds from this transaction will be used to implement what it described as “the first RAIN prediction markets token treasury strategy”, while still supporting ongoing business operations. Further details are available for direct updates here.
For related news in cryptocurrency markets, including updates about Bitcoin, XRP, and Dogecoin, as well as recent ETF launches, see additional coverage.
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