Cosmos Health, a global healthcare company, just landed a massive $300 million funding round to build a hefty Ethereum (ETH) reserve.
Fueling the ETH Treasury
The Chicago-based firm secured the cash through a deal with a US institutional investor. This involves issuing convertible notes, with at least 72.5% of the funds earmarked for buying ETH. The remaining money will go towards general operations and growth. Cosmos Health aims to boost shareholder value by investing in ETH, a leading cryptocurrency.
Safeguarding the Investment
Digital asset custodian BitGo will handle the secure storage and staking of the ETH holdings.
CEO’s Take
Cosmos Health CEO Greg Siokas sees this as a major step, giving shareholders direct exposure to ETH. He’s confident this move will pay off in the long run.
Market Reaction
Despite the big news, Cosmos Health’s stock price dipped 8.7% on the day of the announcement, closing at $1.05.
Disclaimer: This information is for general knowledge and shouldn’t be considered investment advice. Always do your own research before investing in cryptocurrencies.
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