PANews reported on December 1st that, according to CoinDesk, Japanese listed company Remixpoint announced today that it is changing the use of funds raised through a new share issuance reservation right, ceasing its original plan to "invest in Web3.0 related businesses." The company explained that, under the current business environment, it is difficult to find high-quality investment projects in the short term that both meet the company's pursuit of "high growth potential" and achieve a "balance between expected returns and risks." Therefore, the 1.2 billion yen (approximately US$7.75 million) originally planned for Web3-related businesses will be redirected to "battery and energy businesses." In addition, of the ¥5.976 billion (approximately US$38.6 million) raised by the company, ¥476,000 (approximately US$30.74 million) had been used to purchase Bitcoin, and this portion of the funds was fully invested in June. On October 23, in order to avoid dilution of share value and protect the interests of existing shareholders, the company resolved to stop new equity financing (IPOs) for the purpose of purchasing crypto assets.PANews reported on December 1st that, according to CoinDesk, Japanese listed company Remixpoint announced today that it is changing the use of funds raised through a new share issuance reservation right, ceasing its original plan to "invest in Web3.0 related businesses." The company explained that, under the current business environment, it is difficult to find high-quality investment projects in the short term that both meet the company's pursuit of "high growth potential" and achieve a "balance between expected returns and risks." Therefore, the 1.2 billion yen (approximately US$7.75 million) originally planned for Web3-related businesses will be redirected to "battery and energy businesses." In addition, of the ¥5.976 billion (approximately US$38.6 million) raised by the company, ¥476,000 (approximately US$30.74 million) had been used to purchase Bitcoin, and this portion of the funds was fully invested in June. On October 23, in order to avoid dilution of share value and protect the interests of existing shareholders, the company resolved to stop new equity financing (IPOs) for the purpose of purchasing crypto assets.
Japanese listed company Remixpoint has cancelled its 1.2 billion yen investment in Web3-related businesses.
PANews reported on December 1st that, according to CoinDesk, Japanese listed company Remixpoint announced today that it is changing the use of funds raised through a new share issuance reservation right, ceasing its original plan to "invest in Web3.0 related businesses." The company explained that, under the current business environment, it is difficult to find high-quality investment projects in the short term that both meet the company's pursuit of "high growth potential" and achieve a "balance between expected returns and risks." Therefore, the 1.2 billion yen (approximately US$7.75 million) originally planned for Web3-related businesses will be redirected to "battery and energy businesses."
In addition, of the ¥5.976 billion (approximately US$38.6 million) raised by the company, ¥476,000 (approximately US$30.74 million) had been used to purchase Bitcoin, and this portion of the funds was fully invested in June. On October 23, in order to avoid dilution of share value and protect the interests of existing shareholders, the company resolved to stop new equity financing (IPOs) for the purpose of purchasing crypto assets.
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