ENDRA Life Sciences Announces $14.4 Million Private Placement to Launch Digital Asset Treasury Strategy Managed by Arca
Reuters
Oct 15
ENDRA Life Sciences Announces $14.4 Million Private Placement to Launch Digital Asset Treasury Strategy Managed by Arca
ENDRA Life Sciences Inc. has announced a private placement of up to $14.4 million to launch a digital asset treasury $(DAT)$ strategy managed by Arca Investment Management. The company has already secured $4.9 million in commitments from institutional and cryptocurrency investors. The majority of the net proceeds will be used to establish ENDRA's DAT operations and accumulate cryptocurrency, focusing on decentralized exchanges and protocols, particularly those related to perpetual futures. The remaining funds will support the completion of a pilot validation imaging study for liver disease technologies. Jeff Dorman is expected to join ENDRA's Digital Asset Advisory Board to help guide the new strategy. Lucid Capital Markets acted as the sole placement agent for the offering.
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