TechFlow news, October 13 — According to PRNewswire, TAO Treasury company TAO Synergies Inc. (Nasdaq: TAOX), listed on the U.S. stock market, announced it is conducting a $11 million private placement financing.
This round of financing involves existing shareholders, TAO strategic advisor James Altucher, and new investor DCG. The financing includes the issuance of 11,000 newly issued Series E convertible preferred shares with a par value of $1,000 per share, convertible into common stock at a conversion price of $8 per share. Concurrently, five-year common stock warrants will be issued with an exercise price of $8 per share.
James Altucher stated that this financing will further support the company's strategic investments in TAO tokens, as well as potential opportunities to generate revenue and accumulate more TAO within the Bittensor ecosystem. The transaction is expected to be completed around October 15.
