Mill City Ventures Successfully Closes $450 Million Private Placement and Launches SUI Treasury Strategy

PANews reported on August 1st that, according to BusinessWire, Mill City Ventures III, Ltd. (NASDAQ: MCVT) announced the successful completion of a $450 million private equity financing round and the official launch of its pioneering Sui blockchain treasury management strategy. The financing was led by London-based digital asset hedge fund Karatage Opportunities, with equal participation from the Sui Foundation and other institutions. Karatage co-founders Marius Barnett and Stephen Mackintosh serve as Chairman of the Board and Chief Investment Officer, respectively. Mill City currently holds 76,271,187 SUI tokens at an average purchase price of US$3.6389 per token, making it the only publicly listed company officially backed by the Sui Foundation.