Eightco Holdings (OCTO) shares soared by more than 350% in premarket trading Monday after the company said it priced a private placement for 171.2 million shares at $1.46 per share for gross proceeds of about $250 Million.

The company said it also issued about 13.7 million shares to Bitmine Immersion Technologies (BMNR) at $1.46 per share for proceeds of $20 Million.

Eightco said it plans to implement the "world's first Worldcoin treasury strategy" and will use the proceeds to acquire Worldcoin (WLD) as its primary treasury reserve asset.

Eightco also said it will change its Nasdaq ticker symbol to "ORBS," which is expected to take effect on Thursday.