ETHZilla, a US-listed crypto company, announced on social channels that it completed the redemption of its senior secured convertible notes by selling 24,291 ETH for approximately $74.5 million. The proceeds are expected to fund debt redemption in full or in large measure, with management signaling a focus on capital-structure optimization amid its ongoing strategy.
Looking ahead, ETHZilla states that value creation will mainly derive from revenue and cash-flow growth linked to its Real World Asset (RWA) tokenization initiative. As a result, effective immediately, it will pause the official mNAV dashboard on its website, while continuing to publish regular balance-sheet updates. The firm will maintain disclosure of material changes in ETH holdings and/or share count via SEC filings and social channels.
At the time of writing, ETHZilla’s ETH position showed a roughly 3.9% decline against a backdrop of a rising U.S. equities environment, underscoring stock-crypto divergence for the day.
Source: https://en.coinotag.com/breakingnews/ethzilla-sells-24291-eth-to-redeem-74-5m-in-senior-secured-notes-eyes-real-world-asset-rwa-tokenization-growth
