ZeroStack Corp. (NASDAQ: ZSTK) announced on August 19 the completion of a transaction involving approximately $1 billion worth of MemeCore ($M) tokens. ZeroStack added 925,925,926 $M tokens to its balance sheet at $1.08 per token, in exchange for 3.5 million common shares plus pre-funded warrants allowing the purchase of 36.2 million additional shares at $25.19 each. This strike price represents a premium of more than 12 times ZeroStack’s recent market trading levels. The share issuance at such a premium is the most striking element of the deal, and the fact that the transaction was announced and completed on the same day left little room for public market feedback.
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