TechFlow, July 23 - According to BusinessWire, MEI Pharma (Nasdaq: MEIP) announced the completion of a $100 million private placement, planning to use the funds to purchase Litecoin (LTC) as a treasury reserve asset. The move reportedly makes MEI the first company listed on a national exchange to hold Litecoin. Litecoin founder Charlie Lee has joined MEI's board of directors, and digital asset firm GSR has been appointed as financial management advisor. The financing involved issuing approximately 29.24 million shares at $3.42 per share, with participation from the Litecoin Foundation and several investment institutions.
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