TechFlow, September 8 — According to Globe Newswire, Singapore-based security equipment supplier Rectitude Holdings Ltd. (Nasdaq: RECT) announced today that it has entered into a Standby Equity Purchase Agreement (SEPA) with Constantinople Limited, a British Virgin Islands company, for up to $32.625 million. The company plans to use the majority of the funds to purchase Bitcoin, with the remainder allocated for general corporate purposes.
Constantinople Limited is led by veteran Bitcoin investor Tian Jia and includes Chen Zhiqiang, former co-founder and CTO of TRON. Under the agreement, Rectitude has full discretion over the timing and amount of stock issuances, with no minimum drawdown requirements or penalties for unused committed amounts. The company stated it views Bitcoin as a reliable store of value and an attractive investment opportunity, believing its scarcity and limited supply make it an ideal hedge against inflation and a safe-haven asset.
