TechFlow, August 1 — According to The Block, Mill City Ventures, a publicly traded U.S. company, has officially established its SUI token reserve fund following the completion of a $450 million private placement. The company currently holds a total of 76,271,187 SUI tokens at an average purchase price of $3.6389 per token, all acquired through over-the-counter agreements with the Sui Foundation.
Mill City stated it will continue purchasing SUI tokens in the open market and plans to allocate approximately 98% of the net proceeds from the private placement toward SUI token acquisition and reserve management.
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